Daniel Weinstein, Steve Garchik, And Jay Massirman Of Basis Industrial Acquire Industrial Property In Medley For $32.95M
9 Northwest 84th Street
$32,950,000
$199/SF
Building Size
164,970 SF
Asset Type
Industrial
Closing
Jul 20, 2022
AI
A 164,970 square foot industrial property located at 9 NW 84th St in Medley has been sold for a total amount of $32,950,000. The property was purchased by Daniel Weinstein, Steve Garchik, and Jay Massirman from Basis Industrial. The seller of the property is Megacenter. The deal was brokered by Cody Brais, Luis Castillo, and Paul Spellman from JLL.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,950,000
- Square Footage: 164,970
- Price per Square Foot: $200
- Address: 9 NW 84th St, Medley
- Market: Medley
The buyers of the property, Daniel Weinstein, Steve Garchik, and Jay Massirman, were represented by Cody Brais, Luis Castillo, and Paul Spellman from JLL. The purchase price of $32,950,000 translates to a cost of $200 per square foot for the 164,970 square foot industrial asset located at 9 NW 84th St in Medley.
Players
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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93