Naftali Group Sells JEM Sky Villa 1 Multifamily In Miami For $9 Million
SOLD
$9,000,000
Florida
See Similar DealsMultiFamily5,277 SF
Sold 11/19/2024
SOLD
Naftali Group Sells JEM Sky Villa 1 Multifamily In Miami For $9 Million
1016 Northeast 2nd Avenue
See Similar DealsMultiFamily5,277 SF
Sold 11/19/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,705
Total Square Footage:5,277 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 1016 Northeast 2nd Avenue in the Miami market. It was sold for $9,000,000 with a total square footage of 3,627, which equates to a price per square foot of approximately $2,481.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Sale Date: 11/19/2024
- Address: 1016 Northeast 2nd Avenue
- Market: Miami
- Seller: Naftali Group
- Broker: OneWorld Properties
- PPSF: $2,481
This transaction marks a significant achievement for Naftali Group, as they sold the luxurious JEM Sky Villa 1 at JEM Private Residences shortly after its market launch. The deal also sets a new record in Miami Worldcenter.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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