Costantino Cicchelli And Stefano Garofoli Acquire 14-Unit Multifamily Property In Miami For $2.125M
1472 Northwest 14th Street
$2,125,000
$220/SF
Building Size
9,648 SF
Asset Type
—
Closing
Dec 29, 2022
About this deal
AI
The multifamily property located at 1472 Northwest 14th Street in Miami has been sold for a total price of $2,125,000. The property consists of 14 units, with each unit having a price per unit (PPU) of $151,786. The total square footage of the property is 9,648, resulting in a price per square foot (PPSF) of $220.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,125,000
- Units: 14
- PPU: $151,786
- Square Footage: 9,648
- PPSF: $220
The buyers of the property are Constantino Cicchelli and Stefano Garofoli. The seller of the property is Daniel Grois. Constantino Cicchelli and Stefano Garofoli were represented by Frank Rodriguez Melo from Cedano Realty Advisors. On the other hand, Tony Arellano from DWNTWN Realty Advisors represented Daniel Grois.
On the Map
$2,125,000
$220/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93