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1442 Northeast Miami Court,...

BrickOne Group Acquires Multifamily Property In Little Havana For $6.1M
SOLDMultiFamily

BrickOne Group Acquires Multifamily Property In Little Havana For $6.1M

1442 Northeast Miami Court, Miami, FL, USA

$6,100,000

Building Size

Asset Type

MultiFamily

Closing

Mar 25, 2020

AI

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.

Players

Arthur David Porosoff

POROSOFF

Broker

$180.7M

vol

25 deals

Broker
Stefano Garofoli

Stefano Garofoli

Buyer

$34M

vol

9 deals

Buyer

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

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93