Gus Massri Acquires $4.2M Hotel In Miami Beach NOBE
SOLD
$4,200,000
Florida
See Similar DealsHotel10,299 SF
Sold 01/29/2021
SOLD
Gus Massri Acquires $4.2M Hotel In Miami Beach NOBE
7510 Harding Avenue, Miami Beach, FL, USA
See Similar DealsHotel10,299 SF
Sold 01/29/2021
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$407
Total Square Footage:10,299 SF
Transaction Type:Sale
A hotel located at 7510 Harding Ave in Miami Beach NOBE, was recently sold for $4,200,000. The property, consisting of 21 keys, was purchased by Gus Massri from sellers Diana and Juan Carlos. The transaction was facilitated by brokers Samuel Heskiel from @Sammyblueyes and Marilina Apfelbaum from @Marilinamiami. The sale took place on January 29, 2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,200,000
- Address: 7510 Harding Ave, Miami Beach NOBE
- Market: Miami Beach NOBE
- Buyer: Gus Massri
- Seller: Diana & Juan Carlos
- Brokers: Samuel Heskiel - @Sammyblueyes, Marilina Apfelbaum - @Marilinamiami
- Keys: 21
- Price Per Key (PPK): $200,000
The successful sale of this hotel is attributed to the collaboration between the buyer, Gus Massri, and the sellers, Diana and Juan Carlos. The transaction was facilitated by Samuel Heskiel from @Sammyblueyes and Marilina Apfelbaum from @Marilinamiami. This deal represents a significant investment opportunity in the bustling market of Miami Beach NOBE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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