Siebert Financial buys Miami Beach office building for $6.75M, funds with loans from Gebbia and East West Bank

SIEBERT FINANCIAL CORP

Purchase price $6.75M for 12,000 sq ft office at 653 Collins Ave, Miami Beach; will serve as primary operations for RISE Prime (ESG-focused prime brokerage).
Funded by $750k cash, $2M loan from controlling shareholder Gloria Gebbia at 4% annual interest, maturing Dec 2022.
$4M loan from East West Bank at 3.6% first 7 years then prime, 10-year term, 30-year amortization, secured by building.
Building expands Siebert's presence in Greater Miami area; RISE Prime offers prime brokerage aligned with ESG initiatives.

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