Citadel Acquires Multifamily Property In Miami For $20M
SOLD
$20,000,000
Florida
See Similar DealsMultiFamily
Sold 08/05/2022
SOLD
Citadel Acquires Multifamily Property In Miami For $20M
1250 Brickell Bay Drive, Miami, Florida 33131, United States
See Similar DealsMultiFamily
Sold 08/05/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1250 Brickell Bay Drive and 1260 Brickell Bay Drive in Miami has been sold for a total of $20,000,000. The property spans across 0.15 acres and consists of 12 units. The price per unit for this transaction was $1,666,667.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 1250 Brickell Bay Drive & 1260 Brickell Bay Drive
- Market: Miami
- Acreage: 0.15
The buyer in this transaction is Citadel, represented by Ken Griffin and Gerald Beeson. On the other hand, Ytech, represented by Yamal Yidios, acted as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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