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3044 Southwest 28th Lane

Phillip & Jonathan Freidin Purchase Industrial Property In Miami For $2.6M
SOLDIndustrial

Phillip & Jonathan Freidin Purchase Industrial Property In Miami For $2.6M

3044 Southwest 28th Lane

$2,600,000

$573/SF

Building Size

4,535 SF

Asset Type

Industrial

Closing

Mar 28, 2024

AI

The industrial property located at 3044 Southwest 28th Lane in Miami was sold for $2,600,000. The asset spans 4,535 square feet, resulting in a price per square foot of $573. The transaction took place on March 28, 2024, with Phillip & Jonathan Freidin acquiring the property from Melanie Shapiro & Jorge Colon.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,600,000
  • Address: 3044 Southwest 28th Lane
  • Market: Miami
  • Buyer: Phillip & Jonathan Freidin
  • Seller: Melanie Shapiro & Jorge Colon
  • Buyer's Rep: Mateo Romero - Gridline Properties

Mateo Romero from Gridline Properties represented Phillip & Jonathan Freidin in this transaction, ensuring a successful deal for the buyers. The sellers, Melanie Shapiro & Jorge Colon, were able to close the sale of this industrial property with the assistance of their representative. The strategic negotiation and coordination between the parties involved culminated in the transfer of ownership at the specified price.

Players

Mateo Romero

Gridline Properties

Broker

$58.7M

vol

17 deals

Broker

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93