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9110 West Bay Harbor Drive,...

Menachem Kranz Acquires Condo In Bay Harbor Islands For $6.5M
SOLD

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

Asset Type

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

Menachem Kranz

Buyer

$34.3M

vol

3 deals

Buyer
MidFirst Bank
MidFirst BankLender

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