Updated Aug 25, 2026
SOLDMultiFamily
Ben Bay Rd, LLC Acquires Bay Rd Assemblage From Valerie Owen And Others For $8.9M
1580 Bay Road, 1410 16th Street & 1420 16th Street
$8,900,000
$665/SF
Building Size
4,460 SF
Asset Type
MultiFamily
Closing
Jul 23, 2026
About this deal
AI
The property asset involved in the transaction is an assemblage consisting of three multifamily properties located at 1580 Bay Road, 1410 16th Street, and 1420 16th Street in the Miami Beach market. The sale price for the assemblage was $8,900,000, encompassing a total of 15,250 square feet. The price per square foot is recorded at $584.
Summary of transaction details:
- Property Type: Assemblage
- Transaction Amount: $8,900,000
- Buyer: Ben Bay Rd, LLC
- Seller: Valerie Owen, George Owen, Matthew Owen Jr & Matthew Owen Sr
- Broker: Shana Santalla - Lifestyle International Realty
- Square Footage: 15,250
- Price per Square Foot: $584
The deal involved the collaboration of Shana Santalla, who represented the sellers. She successfully brought together multiple ownership groups to form the assemblage, which allowed for approximately 30,500 square feet of development potential with a 2.0 FAR. The transaction concluded at $8.9 million, exceeding the original asking price of $8.7 million by $200,000.
Players
Miami Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Lifestyle International Realty to view all their deals.
Browse Miami Beach multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93