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1986 Biarritz Dr

Antonio Pardo Purchases 1986 Biarritz Dr Multifamily Property From Charles Burkett For $2,830,000
SOLDMultiFamily

Antonio Pardo Purchases 1986 Biarritz Dr Multifamily Property From Charles Burkett For $2,830,000

1986 Biarritz Dr

$2,830,000

$92/SF

Building Size

30,691 SF

Asset Type

MultiFamily

Closing

May 29, 2014

AI

The property asset involved in the transaction is located at 1986 Biarritz Dr in Miami Beach. This multi-family property encompasses a total square footage of 30,691 and was sold for a price of $2,830,000.00.

Summary of transaction details:

This transaction saw Antonio Pardo as the buyer and Charles Burkett as the seller. The brokerage representation was provided by Arthur Porosoff and Scott Sandelin from Marcus & Millichap, along with Ronnie Issenburg, ensuring a professional handling of the deal.

Players

Scott Sandelin

Marcus & Millichap

Broker

$300.2M

vol

30 deals

Broker

Antonio Pardo

Buyer

$4.8M

vol

2 deals

Buyer

Charles Burkett

Seller
Seller

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

5.61%

Cash-on-Cash

-1.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93