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Joseph Cohen Acquires Miami Multifamily For $4.05M With Marcus & Millichap Brokers

Property Image
SOLD
$4,050,000
Alejandro Gonzalez
Felipe Echarte
Evan Kristol
+ 1

Florida

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MultiFamily
Sold 07/20/2022
the dealplayerscompscontact
Property Image
SOLD

Joseph Cohen Acquires Miami Multifamily For $4.05M With Marcus & Millichap Brokers

1281 Northwest 61st Street, Miami, Florida 33142, United States

See Similar Deals
MultiFamily
Sold 07/20/2022
Alejandro Gonzalez
Felipe Echarte
Evan Kristol
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 1281 NW 61st Street in Miami has been sold for a total of $4,050,000. The property consists of 33 units, resulting in a price per unit of $122,727. The transaction took place on July 20, 2022.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,050,000
  • Units: 33
  • Price Per Unit: $122,727

The buyer in this transaction was Joseph Cohen. The deal was facilitated by Alejandro Gonzalez, Evan Kristol, and Felipe Echarte from Marcus & Millichap.

Players

Evan Kristol
Marcus & Millichap
Evan Kristol
58 deals$409.7M volume
BROKER
Felipe Echarte
Marcus & Millichap
Felipe Echarte
43 deals$329.1M volume
BROKER
Alejandro Gonzalez
Marcus & Millichap
Alejandro Gonzalez
7 deals$40.3M volume
BROKER
JC
Joseph Cohen
8 deals$23.3M volume
BUYER
JC
Joseph Cohen
8 deals$23.3M volume
BUYER
JC
Joseph Cohen
8 deals$23.3M volume
BUYER
JC
Joseph Cohen
8 deals$23.3M volume
BUYER

Details

SOLD
IMAGE: Evan Kristol, Felipe Echarte & Alejandro Gonzalez DATE: 07/20/2022 ADDRESS: 1281 NW 61st Street MARKET: Miami ASSET TYPE: Multifamily BUYER: Joseph Cohen BROKERS: Alejandro Gonzalez, Evan Kristol (@Evan.Kristol) (@TheKristolGroup)& Felipe Echarte (@Echarte1)- Marcus & Millichap (@MarcusMillichap_Fl) SALE PRICE: $4,050,000 UNITS: 33 ~ PPU: $122,727

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$216,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79