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1450 Meridian Ave

Francisco Lagos Marmol Purchases MultiFamily Property On Meridian Avenue Miami Beach For $3,200,000
SOLDMultiFamily

Francisco Lagos Marmol Purchases MultiFamily Property On Meridian Avenue Miami Beach For $3,200,000

1450 Meridian Ave

$3,200,000

$404/SF

Building Size

7,918 SF

Asset Type

MultiFamily

Closing

Dec 16, 2015

AI

The property asset involved in this transaction is a multifamily building located at 1450 Meridian Ave in the Miami Beach market. The sale was completed on December 16, 2015, with a transaction amount of $3,200,000. The asset encompasses a total square footage of 7,918.

Summary of transaction details:

This transaction involved key participants, including the buyer, Francisco Lagos Marmol, and the seller, Timothy Kingcade. The broker representing this transaction was Arthur Porosoff, facilitating the deal between the parties involved.

Players

Arthur Porosoff

Broker
Broker

Francisco Lagos Marmol

Buyer

$25M

vol

5 deals

Buyer

Timothy Kingcade

Seller
Seller

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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93