BrickOne Group Acquires Multifamily Property In Little Havana For $6.1M
SOLD
$6,100,000
Florida
See Similar DealsMultiFamily
Sold 03/26/2020
SOLD
BrickOne Group Acquires Multifamily Property In Little Havana For $6.1M
1442 Northeast Miami Court, Miami, FL, USA
See Similar DealsMultiFamily
Sold 03/26/2020
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1442 Northeast Miami Court and 937 Southwest Fifth Street in Little Havana has been sold for a price of $6,100,000. The property spans 12,294 square feet and comprises of 48 units. This transaction was completed on 03/26/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Address: 1442 Northeast Miami Court, 937 Southwest Fifth Street
- Market: Little Havana
The buyer of this property is BrickOne Group, represented by Costantino Cicchelli, Frank Rodriguez Melo, and Stefano Garofoli. The seller is New Miami Court Inc and the Trust of Thomas Brennan. Multiple brokers were involved in this transaction, including Arthur Porosoff from D Stone Realty LLC and Melo from Cedano Realty Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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