Aby Rosen Acquires Hotel In Miami, FL For $25.75M
316 Northeast 2nd Street, Miami, Florida 33132, United States
$25,750,000
$347/SF
Building Size
74,143 SF
Asset Type
Hotel
Closing
Apr 20, 2022
About this deal
AI
The property sold in a recent transaction is a hotel located at 316 Ne 2nd St in Miami, FL. The asset spans a total area of 74,143 square feet. The sale took place on April 21, 2022, and the buyer of the property was Aby Rosen. The seller of the hotel was Jeffrey S. Clark. The transaction was completed for a price of $25,750,000, resulting in a price per square foot of $347.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $25,750,000
- Address: 316 Ne 2nd St, Miami, FL
- Market: Miami, FL
- Buyer: Aby Rosen
- Seller: Jeffrey S. Clark
- Total Square Footage: 74,143
- Price per Square Foot: $347
Aby Rosen acted as the buyer in this transaction, while Jeffrey S. Clark acted as the seller. Both parties were represented by their respective brokers or representatives involved in the deal.
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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93