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3200 Southwest 8th Street, ...

Marquis Property Co. Acquires 16.9-Acre Package Deal In Miami For $50M
SOLDCo-Op

Marquis Property Co. Acquires 16.9-Acre Package Deal In Miami For $50M

3200 Southwest 8th Street, Miami, FL, USA

$50,000,000

Building Size

Asset Type

Co-Op

Closing

Nov 24, 2021

AI

The Levin Family has sold two properties located at 3200 and 6020 SW 8th St in Miami. The package deal consists of a total of 16.9 acres of land. The transaction took place on 11/24/2021 and was facilitated by Alex Suarez of Global Investments Realty as the listing agent and Anthony De Yurre of Bilzin Sumberg as the sellers counsel.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $50,000,000
  • Market: Miami
  • Listing Agent: Alex Suarez - Global Investments Realty
  • Sellers Counsel: Anthony De Yurre - Bilzin Sumberg

Marquis Property Company acquired the properties from The Levin Family. This sale marks the end of almost 70 years of ownership of the Mobile Home Parks. The parties involved in the transaction, including the buyer, seller, listing agent, and sellers counsel, have worked together to successfully conclude the deal.

Players

Alex Suarez

Global Investments Realty

Broker

$175.4M

vol

10 deals

Broker
MC
Marquis Property CompanyBuyer

Miami Co-Op Market Snapshot

Boundary boundary · Co-Op · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93