Updated Dec 21, 2023
Jonathan Sredni Acquires Multifamily Property In Miami Beach For $6.8M
1971 Bay Drive, Miami Beach, Florida 33141, United States
$6,800,000
$415/SF
Building Size
16,365 SF
Asset Type
MultiFamily
Closing
Jan 13, 2022
About this deal
AI
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.
On the Map
$6,800,000
$415/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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93