Urbanica Hotels Acquires Hotel In Miami For $1.57M
237 Northeast 32nd Street, Miami, FL, USA
$1,570,000
$379/SF
Building Size
4,142 SF
Asset Type
Hotel
Closing
Dec 1, 2020
About this deal
AI
A hotel located at 237 NE 32 Street in Miami has been sold for $1,570,000. The property, spanning 4,142 square feet, was purchased by Urbanica Hotels. The transaction involved a total of 6 units, with an average price per unit of $261,667.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $1,570,000
- Address: 237 NE 32 Street
- Market: Miami
- Square Footage: 4,142
- Number of Units: 6
- Price Per Unit: $261,667
The buyer of the hotel was Urbanica Hotels, represented by Charlie Porchetto and Diego Colmenero. The seller in the transaction was Jerry Lopez. The deal was facilitated by brokers Adam Henick, Brandon Charnas, and Stefano Santoro of Current Real Estate Advisors.
Players
Miami Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.10%
Cash-on-Cash
-2.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93