Updated Dec 21, 2023
Michael Herman Acquires Multifamily Property In Allapattah For $7.2M
1020 Northwest 7th Avenue, Miami, Florida 33136, United States
$7,200,000
$211/SF
Building Size
34,126 SF
Asset Type
MultiFamily
Closing
May 9, 2022
About this deal
AI
Located at 1020 NW 7th Ave in Allapattah, this multifamily property was recently sold in a closed transaction. The property spans a total of 34,126 square feet and consists of 35 units. The sale price for this asset was $7,200,000, resulting in a per unit price of $205,714. The price per square foot is calculated to be $211.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,200,000
- Units: 35
- Price per Unit: $205,714
- Square Footage: 34,126
- Price per Square Foot: $211
- Market: Allapattah
The buyer in this transaction is Michael Herman, while the seller is Jean Pierre Brunois. Acting as the broker in this deal is Enrique Jordan from Central Commercial Real Estate.
On the Map
$7,200,000
$211/SF
MultiFamily
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Players
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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93