Marcus & Millichap Sells Plaza 170 Condo Portfolio In North Miami Beach For $6.8M
955 Northeast 170th Street & 995 Northeast 170th Street
$6,785,000
Building Size
—
Asset Type
Condo
Closing
Nov 29, 2023
AI
Marcus & Millichap has sold Plaza 170, a condo portfolio located at 955-995 Northeast 170th Street in North Miami Beach, Florida. The portfolio consists of two U-shaped buildings with a total of 38 units. The property's unique location, excellent unit mix, and spacious layouts attracted investors. The sale price for Plaza 170 was $6,785,000, with a per unit price of $178,553.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,785,000
- Units: 38
- Price per Unit: $178,553
- Address: 955-995 Northeast 170th Street, North Miami Beach, FL
- Market: North Miami Beach
Evan Kristol, Felipe Echarte, and Nicholas McAndrew from Marcus & Millichap represented the parties involved in 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
2.34%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93