Updated Dec 4, 2024
Felipe Echarte, Evan Kristol And Nicholas McAndrew Facilitate $9.75M Sale Of Miami Multifamily Property
15201 Memorial Highway
$9,750,000
$118/SF
Building Size
82,328 SF
Asset Type
MultiFamily
Closing
Apr 8, 2024
About this deal
AI
The Memorial Highway Apartments in Miami, Florida, have been sold for $9.75 million. The multifamily building spans 36,050 square feet and consists of 57 units. Situated at 15201 Memorial Highway in the Biscayne Gardens neighborhood, the property offers proximity to educational institutions, healthcare facilities, Interstate 95, and Haulover Beach.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,750,000
- Market: Miami
- Address: 15201 Memorial Highway
- SF: 36,050
- PPSF: $270
The sale of the Memorial Highway Apartments was facilitated by Evan Kristol, Felipe Echarte, and Nicholas McAndrew of Marcus & Millichap. Felipe Echarte, a senior vice president investments at Marcus & Millichap, played a key role in the transaction, bringing together the parties involved in this significant deal.
On the Map
$9,750,000
$118/SF
MultiFamily
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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
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93