PMG Sells Condo In Miami For $80M With Sergio Pintos & Ryan Shear As Sellers
SOLD
$80,000,000
Florida
See Similar DealsCondo
Sold 01/20/2023
SOLD
PMG Sells Condo In Miami For $80M With Sergio Pintos & Ryan Shear As Sellers
398 Northeast 5th Street, Miami, Florida 33132, United States
See Similar DealsCondo
Sold 01/20/2023
Summary
FLORIDA
Asset Type:Condo
Transaction Type:Sale
The property involved in this closed transaction is a condo located at 398 NE 5th St in Miami. The sale took place on January 20, 2023, with a total sales volume of $80,000,000. The property is owned by PMG, represented by Sergio Pintos and Ryan Shear.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $80,000,000
- Market: Miami
PMG, along with Sergio Pintos and Ryan Shear, acted as the sellers in this transaction. It is worth noting that the $80 million represents the cumulative sales volume of multiple units within the last 60 days.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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