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9 Northwest 84th Street

Daniel Weinstein, Steve Garchik, And Jay Massirman Of Basis Industrial Acquire Industrial Property In Medley For $32.95M
SOLDIndustrial

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

Luis Castillo

JLL

Broker

$2.2B

vol

57 deals

Broker
Basis Industrial
Basis IndustrialBrokerage
Daniel Weinstein

Daniel Weinstein

Basis Industrial

Buyer

$195.1M

vol

7 deals

Buyer
Basis Industrial
Basis IndustrialBuyer

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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