Shai Ben-Ami Acquires 9-Unit Condo Portfolio In Downtown Miami For $3.2M
151 Southeast 1st Street, Miami, Florida 33131, United States
$3,200,000
$471/SF
Building Size
6,793 SF
Asset Type
Condo
Closing
Jun 30, 2022
AI
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.
Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93