Updated Oct 28, 2024
Citadel Acquires Multifamily Property In Miami For $20M
1250 Brickell Bay Drive, Miami, Florida 33131, United States
$20,000,000
Units
12
Asset Type
MultiFamily
Closing
Aug 4, 2022
About this deal
AI
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.
On the Map
$20,000,000
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93