Sergio Bernal Purchases Hotel At 575 Ne 61st St In Miami For $1.93M From Sheldon Klein
575 Ne 61st St
$1,925,000
$697/SF
Building Size
2,760 SF
Asset Type
Hotel
Closing
Jan 19, 2023
AI
The property asset involved in this transaction is a hotel located at 575 Ne 61st St in Miami, with a total square footage of 2,760. The hotel was sold for a price of $1,925,000.00, reflecting its market value in the Miami area.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $1,925,000.00
- Address: 575 Ne 61st St
- Market: Miami
- Square Footage: 2,760
- Buyer: Sergio Bernal
- Seller: Sheldon Klein
- Broker Representatives: Arthur Porosoff, David Cohen (Horvath & Tremblay), Javier Ubeda
The key individuals involved in this transaction include the buyer, Sergio Bernal, and the seller, Sheldon Klein, who facilitated the sale of the hotel. The brokerage team representing the seller included Arthur Porosoff, David Cohen from Horvath & Tremblay, and Javier Ubeda, highlighting the involvement of multiple professionals in the successful closure of this 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
8.24%
Cash-on-Cash
-2.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93