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.
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