Interdevco Acquires Hotel In Kendall For $16.1M With Buyer's Rep Josep Maria Suriol & Seller's Rep Joel Murovitz
7600 Southwest 88th Street, Miami, Florida 33173, United States
$16,100,000
$273/SF
Building Size
58,849 SF
Asset Type
Hotel
Closing
May 23, 2022
AI
The hotel located at 7600 Southwest 88th Street in Kendall has been sold in a transaction. The sale took place on May 24, 2022. The property was bought by Interdevco, with Josep Maria Suriol representing the buyer. The seller in this transaction was Joel Murovitz, who was represented by B. Riley Financial.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $16,100,000
- Address: 7600 Southwest 88th Street
- Market: Kendall
The deal involved a total of 119 keys, with a price per key (PPK) of $135,294.
Players
Kendall 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93