Menachem Kranz Acquires Condo In Bay Harbor Islands For $6.5M
9110 West Bay Harbor Drive, Bay Harbor Islands, Florida 33154, United States
$6,500,000
Building Size
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Asset Type
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Closing
May 3, 2022
AI
The condo located at 9110 West Bay Harbor Drive in Bay Harbor Islands has been sold for $6,500,000. The property consists of 10 units, with a price per unit of $650,000. Menachem Kranz of Stratify Investment Partners served as the buyer in this transaction. The sale took place on May 4, 2022, with Menachem Kranz representing the buyer.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $6,500,000
- Units: 10
- Price Per Unit: $650,000
MidFirst Bank provided the lending for this sale. The buyer, Menachem Kranz, was represented by Stratify Investment Partners. The property is located in the desirable neighborhood of Bay Harbor Islands.
Players
Bay Harbor Islands CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93