Updated Sep 9, 2024
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
About this deal
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.
On the Map
$5,500,000
$272/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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93