Edgewater 24 Apartments LP Acquires Land In Miami For $7.2M
116 NE 24th St, Miami, FL, USA
$7,200,000
$986/SF
Building Size
7,300 SF
Asset Type
—
Closing
Oct 6, 2021
About this deal
AI
The sale of a land property located at 116 NE 24th St in Miami has been completed. The property was acquired by Edgewater 24 Apartments LP from the seller, Jose Carrera, for a total sale price of $7,200,000. The transaction took place on 10/07/2021.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $7,200,000
- Address: 116 NE 24th St, Miami
Edgewater 24 Apartments LP acted as the buyer in this transaction, while Jose Carrera was the seller. The deal signifies a significant investment in the Miami market.
On the Map
$7,200,000
$986/SF
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Miami CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93