secwatch.observer — SEC 8-K summary
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Issuer:     SIEBERT FINANCIAL CORP (SIEB)
CIK:        0000065596
Form:       8-K
Filed at:   2022-01-05T23:59:59+00:00
Accession:  0000891092-22-000025
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65596/000089109222000025/0000891092-22-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65596/000089109222000025/sieb8k2021.htm
  HTML page:      https://secwatch.observer/filing/0000891092-22-000025

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