Sinan Tuna Acquires Multifamily Property In Miami Beach For $15M
SOLD
$15,000,000
+ 1
Florida
See Similar DealsMultiFamily5,217 SF
Sold 02/16/2022
SOLD
Sinan Tuna Acquires Multifamily Property In Miami Beach For $15M
165 North Hibiscus Drive, Miami Beach, Florida 33139, United States
See Similar DealsMultiFamily5,217 SF
Sold 02/16/2022
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,875
Total Square Footage:5,217 SF
Transaction Type:Sale
The multifamily property located at 165 N Hibiscus Drive in Miami Beach has been sold for a transaction amount of $15,000,000. The property spans a total area of 5,217 square feet, resulting in a price per square foot of $2,875.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Address: 165 N Hibiscus Drive, Miami Beach
- Square Footage: 5,217
- Price per Square Foot: $2,875
The buyer in this transaction is Sinan Tuna. On the other hand, Pascal Nicolai, represented by Pascal Nicolai of Sabal Development, acted as the seller. Sinan Tuna was supported by Marko Gojanovic from One Sotheby’s International Realty and Alejandro Diaz Bazan from Coldwell Banker as his buyer's representatives. Dora Puig from Luxe Living Realty served as the seller's representative.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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