Shai Ben-Ami Acquires 9-Unit Condo Portfolio In Downtown Miami For $3.2M
SOLD
$3,200,000
Florida
See Similar DealsCondo6,793 SF
Sold 06/30/2022
SOLD
Shai Ben-Ami Acquires 9-Unit Condo Portfolio In Downtown Miami For $3.2M
151 Southeast 1st Street, Miami, Florida 33131, United States
See Similar DealsCondo6,793 SF
Sold 06/30/2022
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$471
Total Square Footage:6,793 SF
Transaction Type:Sale
A portfolio of nine condominium units located in Downtown, Miami has been sold for a total price of $3,200,000. The units are situated at 151 SE 1st St, specifically in units 501, 802, 1101, 1401, 2102, 3103, 3209, 3311, and 3503. The total square footage of the portfolio is 6,793, with each unit averaging at 755 square feet. The price per unit for this transaction is approximately $355,556, while the price per square foot is $471. The sale was completed on June 30, 2022.
Summary of transaction details
- Property Type: Condo Portfolio
- Transaction Amount: $3,200,000
- Number of Units: 9
- Price per Unit: $355,556
- Total Square Footage: 6,793
- Price per Square Foot: $471
- Market: Downtown, Miami
The buyer of this portfolio is Shai Ben-Ami. Representing the buyer in this transaction is Linn Ahsberg from Urban Core. On the other hand, the seller of the portfolio is Harvey Hernandez, with Carlos Morean from Compass acting as the seller's representative. All parties involved successfully concluded the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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