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Jonathan Sredni Acquires Multifamily Property In Miami Beach For $6.8M

Property Image
SOLD
$6,800,000
Alec Demetriou
Adam Duncan
Jonathan De La Rosa
+ 3

Florida

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MultiFamily16,365 SF
Sold 01/13/2022
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Property Image
SOLD

Jonathan Sredni Acquires Multifamily Property In Miami Beach For $6.8M

1971 Bay Drive, Miami Beach, Florida 33141, United States

See Similar Deals
MultiFamily16,365 SF
Sold 01/13/2022
Alec Demetriou
Adam Duncan
Jonathan De La Rosa
+ 3
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$415
Total Square Footage:16,365 SF
Transaction Type:Sale

The multifamily property located at 1971-1985 Bay Drive in Miami Beach has been sold. The transaction took place on January 13, 2022. The property consists of 24 units and spans 16,365 square feet. The sale price for this property was $6,800,000, resulting in a price per unit of $283,333 and a price per square foot of $416.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,800,000
  • Address: 1971-1985 Bay Drive
  • Market: Miami Beach
  • Units: 24
  • Price per Unit: $283,333
  • Square Footage: 16,365
  • Price per Square Foot: $416

The buyer in this transaction was Jonathan Sredni, while the seller was Yariv Bensira. The deal was facilitated by brokers Joseph Thomas, Adam Duncan, Jonathan De La Rosa, Eduardo Toledo, and Alec Demetriou from Marcus & Millichap.

Players

Jonathan De La Rosa
Marcus & Millichap
Jonathan De La Rosa
145 deals$659M volume(786) 522-7027
BROKER
Eduardo "Eddie" Toledo
Marcus & Millichap
Eduardo Toledo
71 deals$361.9M volume(786) 522-7047
BROKER
Adam Duncan
Marcus & Millichap
Adam Duncan
26 deals$170.8M volume
BROKER
Joseph Thomas
Marcus & Millichap
Joseph Thomas
53 deals$372.9M volume
BROKER
Alec Demetriou
Marcus & Millichap
Alec Demetriou
27 deals$219.6M volume
BROKER
YB
Yariv Bensira
5 deals$31.2M volume
SELLER

Details

SOLD
IMAGE: Joseph Thomas, Yariv Bensira, Adam Duncan, Alec Demetriou, Jonathan De La Rosa, Pedro Camejo & Eduardo Toledo DATE: 01/13/2022 ADDRESS: 1971-1985 Bay Drive MARKET: Miami Beach ASSET TYPE: Multifamily BUYER: Jonathan Sredni SELLER: Yariv Bensira BROKERS: Joseph Thomas, Adam Duncan, Jonathan De La Rosa, Eduardo Toledo, Alec Demetriou - Marcus & Millichap SALE PRICE: $6,800,000 UNITS: 24 ~ PPU: $283,333 SF: 16,365 ~ PPSF: $416

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
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