Updated Oct 28, 2024
Michael Fischer's Moteli Properties Acquires Multifamily Property In Miami Beach For $5.9M
1319 Meridian Avenue, Miami Beach, Florida 33139, United States
$5,900,000
Units
23
Asset Type
MultiFamily
Closing
Feb 24, 2022
About this deal
AI
The multifamily property located at 1319 Meridian Avenue in Miami Beach has been sold for a total of $5,900,000. The transaction took place on February 25, 2022, and included a total of 23 units. The price per unit (PPU) for this property is $256,522. The property is situated in the thriving market of Miami Beach, known for its vibrant real estate opportunities.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,900,000
- Address: 1319 Meridian Avenue, Miami Beach
- Market: Miami Beach
- Buyer: Michael Fischer - Moteli Properties; Chaim Gurman
- Seller: Daniel Gal
- Brokers: Seth A. Cohen & Techrin Hijazi - Brown Harris Stevens
The buyer of the property is Michael Fischer, representing Moteli Properties, along with Chaim Gurman. On the other hand, the seller is Daniel Gal. The transaction was facilitated by Seth A. Cohen and Techrin Hijazi from Brown Harris Stevens, serving as the brokers in this deal. Their expertise and knowledge in the Miami Beach market contributed to the successful completion of this transaction.
On the Map
$5,900,000
MultiFamily
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Players
Miami Beach 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93