Daniel Weinstein, Steve Garchik, And Jay Massirman Of Basis Industrial Acquire Industrial Property In Medley For $32.95M
SOLD
$32,950,000
+ 2
Florida
See Similar DealsIndustrial164,970 SF
Sold 07/20/2022
SOLD
Daniel Weinstein, Steve Garchik, And Jay Massirman Of Basis Industrial Acquire Industrial Property In Medley For $32.95M
9 Northwest 84th Street
See Similar DealsIndustrial164,970 SF
Sold 07/20/2022
+ 2
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$199
Total Square Footage:164,970 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,757,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$117,064.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,199.81
Annual Debt Service$1,874,397.72
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