Tom Castellano Acquires Multifamily Property In Miami For $5.5M
1120 Southwest 5th Street
$5,500,000
$272/SF
Building Size
20,212 SF
Asset Type
MultiFamily
Closing
Oct 14, 2022
AI
Located at 1120 SW 5th St in Miami, FL, this multifamily property was recently sold in a closed transaction for a total price of $5,500,000. The property spans a total area of 20,212 square feet, resulting in a price per square foot of $272.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 1120 SW 5th St, Miami, FL
- Market: Miami, FL
- Buyer: Tom Castellano
- Seller: Ademar Villa
- Brokers: Carlos Fausto Miranda & Mauricio Villasuso - Fausto Commercial
- Square Footage: 20,212
- Price per Square Foot: $272
The deal was successfully facilitated by Carlos Fausto Miranda and Mauricio Villasuso from Fausto Commercial. Their expertise and negotiation skills played a key role in ensuring a smooth transaction between the buyer, Tom Castellano, and the seller, Ademar Villa.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93