Updated Sep 11, 2026
The Related Group Sells MultiFamily Property In Downtown Miami For $26M
1400 Biscayne Boulevard
$26,000,000
$1,768/SF
Building Size
14,698 SF
Asset Type
MultiFamily
Closing
Jan 18, 2024
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 1400 Biscayne Boulevard in Downtown Miami. The property consists of five units with a total square footage of 14,698. The transaction took place on January 18, 2024, and the sale price was $26,000,000.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $26,000,000
- Units: 5
- Square Footage: 14,698
- Address: 1400 Biscayne Boulevard UPH4, LPH5201, LPH5203, 1606, 3402
- Market: Downtown Miami
The seller in this transaction was The Related Group, while the buyer was represented by Christopher Garcia from Fortune International Realty. Olga Monson, also from Fortune International Realty, acted as the seller's representative.
On the Map
$26,000,000
$1,768/SF
MultiFamily
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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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93