Steve Saieh & Nawal Saieh Acquire Mixed-Use Asset In Miami For $3.55M
5941 Biscayne Boulevard & 5943 Biscayne Boulevard
$3,550,000
$75/SF
Building Size
47,000 SF
Asset Type
Mixed-use
Closing
May 21, 2024
AI
The mixed-use property located at 5941 Biscayne Boulevard & 5943 Biscayne Boulevard in Miami was recently sold for $3,550,000. Spanning 23,500 square feet, the property was acquired at a price per square foot of $151.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,550,000
- Address: 5941 Biscayne Boulevard & 5943 Biscayne Boulevard
- Market: Miami
Steve Saieh & Nawal Saieh were the buyers in this transaction, while Adi Nahmani of AP Equities served as the seller. The deal was facilitated by Alessandro Saponaro from AFS Living and Luis Guevara from Chariff Realty Group as the brokers representing the parties involved in the sale.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93