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17405 Northwest 94th Court

Updated May 12, 2025

Stephen A. Schwarzman Of Blackstone Acquires Multifamily Asset In Hialeah For $115.96M
SOLDMultiFamily

Stephen A. Schwarzman Of Blackstone Acquires Multifamily Asset In Hialeah For $115.96M

17405 Northwest 94th Court

$115,960,000

$263/SF

Building Size

439,520 SF

Asset Type

MultiFamily

Closing

Apr 18, 2025

About this deal

AI

A multifamily property located at 17405 Northwest 94th Court in Hialeah has been sold for $115,960,000. This asset consists of 359 residential units and encompasses a total square footage of 439,520. The price per unit is $323,008, and the price per square foot stands at $264. The complex, known as Solea at Miami Lakes, was constructed in 2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $115,960,000
  • Buyer: Stephen A. Schwarzman - Blackstone
  • Seller: Bob Faith - Greystar; Harvey Schwartz - Carlyle Group
  • Units: 359
  • Square Footage: 439,520
  • Price Per Unit: $323,008
  • Price Per Square Foot: $264

The transaction involved notable figures in the real estate and investment sectors, with Stephen A. Schwarzman representing Blackstone as the buyer. The sellers include Bob Faith from Greystar and Harvey Schwartz from Carlyle Group, who collaborated in this asset disposal on behalf of their firms.

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$115,960,000

$263/SF

MultiFamily

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Players

Bob Faith

Greystar

Seller

$3.1B

vol

40 deals

Seller
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Hialeah MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $263 per square foot on a published $116M for 439,520 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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