Updated Oct 28, 2024
Grant Cardone's Cardone Capital Acquires Multifamily In Miami For $100M
1001 Northwest 7th Avenue, Miami, Florida 33136, United States
$100,000,000
Units
346
Asset Type
MultiFamily
Closing
Mar 28, 2022
About this deal
AI
The multifamily property located at 1001 Northwest 7th Street in Miami has been sold in a recent transaction. The deal was completed on 03/29/2022, with a sale price of approximately $100,000,000. The property consists of 346 units, with each unit having a per unit price of $289,017. The asset is part of the multifamily market in Miami.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $100,000,000 (Approx.)
- Address: 1001 Northwest 7th Street, Miami
- Market: Miami
The buyer in this transaction is Grant Cardone, representing Cardone Capital. The seller includes Mast Capital, represented by Camilo Miguel Jr. and Jordan Kornberg, as well as AEW Capital Management. The involvement of these key individuals and companies played a significant role in the completion of the deal.
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93