Updated Oct 28, 2024
Sinan Tuna Acquires Multifamily Property In Miami Beach For $15M
165 North Hibiscus Drive, Miami Beach, Florida 33139, United States
$15,000,000
$2,875/SF
Building Size
5,217 SF
Asset Type
MultiFamily
Closing
Feb 15, 2022
About this deal
AI
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.
On the Map
$15,000,000
$2,875/SF
MultiFamily
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Players
Miami Beach 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93