Dezer Platinum Realty Acquires South Beach MultiFamily On West Ave In Miami Beach
1240 11th St Miami Beach, FL 33139, USA
$5,400,000
$547/SF
Building Size
9,858 SF
Asset Type
MultiFamily
Closing
Aug 23, 2023
AI
A multi-family property located at 1240 11th Street in Miami Beach has been sold for a price of $5,400,000. This South Beach multi-family building is situated on West Ave and spans a total area of 9,858 square feet. The property consists of 12 units, making the price per unit $450,000. The price per square foot is estimated at $548.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $5,400,000
- Units: 12
- Price per Unit (PPU): $450,000
- Square Footage (SF): 9,858
- Price per Square Foot (PPSF): $548
- Address: 1240 11th Street, Miami Beach
- Market: Miami Beach
In this off-market sale, the buyer's representative was Demian Pack of Dezer Platinum Realty. On the other hand, the seller's representatives were Mike Tewel and Daniel Wolf from Buyers Realty Miami. The transaction was facilitated between the buyer and the seller through their respective agents.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93