Updated Mar 17, 2025
Sixpine Acquires Multifamily Property In North Miami For $10.1M With Alex Sarkissian And Haig Sarkissian As Buyers
1505 Northwest 135th Street, North Miami, Florida 33054, United States
$10,125,000
$242/SF
Building Size
41,800 SF
Asset Type
MultiFamily
Closing
Feb 16, 2022
About this deal
AI
The multifamily property located at 1505-1525 NE 135th St in North Miami has been sold for $10,125,000. The transaction took place on February 17, 2022. The property consists of 56 units with a total square footage of 41,800. The price per unit is $180,804 and the price per square foot is $242.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,125,000
- Address: 1505-1525 NE 135th St, North Miami
- Market: North Miami
- Buyer: Sixpine - Alex Sarkissian, Haig Sarkissian
- Seller: Cervera Real Estate
- Brokers: Felipe Echarte & Evan Kristol - Marcus & Millichap
Representing the buyer, Sixpine, Alex Sarkissian and Haig Sarkissian acquired the property, while Cervera Real Estate acted as the seller. The deal was facilitated by brokers Felipe Echarte and Evan Kristol from Marcus & Millichap.
Players
North 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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93