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James Curnin Of Clara Homes Acquires Multifamily Property In Bay Harbor Islands For $17.6M

Property Image
SOLD
$17,600,000
Chris Wood
Isaac Toledano

Florida

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MultiFamily
Sold 04/29/2022
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Property Image
SOLD

James Curnin Of Clara Homes Acquires Multifamily Property In Bay Harbor Islands For $17.6M

10200 East Bay Harbor Drive, Bay Harbor Islands, Florida 33154, United States

See Similar Deals
MultiFamily
Sold 04/29/2022
Chris Wood
Isaac Toledano
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 10200 E Bay Harbor Dr & 10290 E Bay Harbor Dr in Bay Harbor Islands has been sold for $17,600,000. The transaction took place on April 29, 2022. The property spans 1.3 acres and has a total of 56,628 square feet. The sale price per square foot is $311.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,600,000
  • Address: 10200 E Bay Harbor Dr & 10290 E Bay Harbor Dr, Bay Harbor Islands
  • Market: Bay Harbor Islands

The property was purchased by James Curnin of Clara Homes and Clara Bay Harbor. The seller of the property is Issac Toledano. The transaction was facilitated by Chris Wood of CBRE.

The property currently consists of 24 units at 10200 E Bay Harbor Dr and 12 units at 10290 E Bay Harbor Dr. However, there are plans to add 77 future units, bringing the total number of units to 113. The price per future unit is estimated to be $228,571.

Players

Chris Wood
CBRE
Chris Wood
2 deals$23.8M volume
BROKER
Isaac Toledano
Isaac Toledano
22 deals$1.2B volume
BROKER
CH
Clara Homes
BUYER

Details

SOLD
IMAGE: James Curnin & Chris Wood DATE: 04/29/2022 ADDRESS: 10200 E Bay Harbor Dr & 10290 E Bay Harbor Dr MARKET: Bay Harbor Islands ASSET TYPE: Multifamily BUYER: James Curnin (@JCurnin7) - Clara Homes; Clara Bay Harbor SELLER: Issac Toledano BROKER: Chris Wood - CBRE (@CBRE) SALE PRICE: $17,600,000 ACRES: 1.3 ~ PPA: $13,538,462 SF: 56,628 ~ PPSF: $311 CURRENT UNITS: 24 at 10200 E Bay Harbor Dr, 12 at 10290 E Bay Harbor Dr FUTURE UNITS: 77 ~ PPU: $228,571

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$62,529.09
Cash-on-Cash Return-1.27%
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