Gus Massri Acquires $4.2M Hotel In Miami Beach NOBE
7510 Harding Avenue, Miami Beach, FL, USA
$4,200,000
$407/SF
Building Size
10,299 SF
Asset Type
Hotel
Closing
Jan 28, 2021
AI
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.
Players
Miami Beach 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93