Simon Nemni & Others Sell Miami Beach Hotel For $30M With Beachfront Realty And Opera REI Inc
3621 Collins Ave Miami Beach, FL 33140, USA
$30,000,000
$640/SF
Building Size
46,864 SF
Asset Type
Hotel
Closing
Mar 31, 2022
AI
The Hotel located at 3621 Collins Avenue in Miami Beach has been sold for $30,000,000. The property spans a total square footage of 46,864, with a price per square foot of $640.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Address: 3621 Collins Avenue
- Market: Miami Beach
- Square Footage: 46,864
- Price Per Square Foot: $640
The sellers of the property were Simon Nemni and others. The deal was facilitated by the following brokers: Marilina Apfelbaum and Samuel Heskiel from Beachfront Realty, as well as Valerio Spinaci from Opera REI Inc.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93