Israeli And U.S. Investors Acquire 72 Units At Adam Neumann’s Flow House For $45M
697 North Miami Avenue
$45,000,000
Units
72
Asset Type
Condo
Closing
Apr 23, 2026
About this deal
AI
The transaction involves the acquisition of 72 units at 697 North Miami Avenue, located in the Miami market, as part of Adam Neumann’s Flow House in Miami Worldcenter. The total transaction value amounts to $45 million, and the per unit price is $625,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $45,000,000
- Units: 72
- Seller: Adam Neumann - Flow
- Broker: Rena Kliot - Pulse International
- Mortgage Brokers: Behnood Ben Dalaei & Nezha El Abbassy - 4everLending
This transaction involved a group of Israeli and U.S. investors, reflecting a structured deal across multiple buyers over the course of a month. Additionally, $32 million in financing was arranged separately for this transaction.
On the Map
$45,000,000
Condo
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Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $625K per unit across 72 units on a published $45M (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93