Tyron Birkmeir & Paul Coelho Acquire Multifamily Asset In Coral Gables For $42.5M
SOLD
$42,500,000
+ 5
Florida
See Similar DealsMultiFamily89,752 SF
Sold
SOLD
Tyron Birkmeir & Paul Coelho Acquire Multifamily Asset In Coral Gables For $42.5M
1501 Southwest 37th Avenue, Miami, Florida 33145, United States
See Similar DealsMultiFamily89,752 SF
Sold
+ 5
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$473
Total Square Footage:89,752 SF
Transaction Type:Sale
A multifamily property located at 1501 SW 37th Avenue in Coral Gables, Miami has been sold for a total of $42,500,000. The property consists of 100 units with an average price per unit of $425,000. The total square footage of the property is 89,752, resulting in a price per square foot of $474. The sale was completed on 10/06/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $42,500,000
- Address: 1501 SW 37th Avenue
- Market: Coral Gables, Miami
Tyron Birkmeir and Paul Coelho, representing Lurra Capital, purchased the property from Thomas Ryan and Jeff Cohen, who were represented by Calum Weaver, Robert Given, Troy Ballard, Zack Sackley, and Perry Synanidis of Cushman & Wakefield.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$150,993.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$201,471.68
Annual Debt Service$2,417,660.19
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