Torres Properties Acquires North Bay Village Condo For $17M
7939 East Drive, North Bay Village, Florida 33141, United States
$17,000,000
$634/SF
Building Size
26,797 SF
Asset Type
—
Closing
Mar 30, 2022
AI
A condo located at 7939 East Drive in North Bay Village has been sold for $17,000,000. The property consists of 15 units, resulting in a per unit price of $1,133,333.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $17,000,000
- Address: 7939 East Drive, North Bay Village
- Market: North Bay Village
The buyers of the property are Brook & Christian Torres from Torres Properties. On the other hand, Victory Developers LLC, represented by Anil Monga & Rajni Monga, acted as the sellers. The transaction was facilitated by Susan Gale from One Sotheby's International Realty.
Players
North Bay Village CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93