Rubin Margules & Adam Margules Acquire Multifamily Property In Miami Beach For $2.9M
SOLD
$2,914,000
Florida
See Similar DealsMultiFamily9,112 SF
Sold 02/07/2022
SOLD
Rubin Margules & Adam Margules Acquire Multifamily Property In Miami Beach For $2.9M
1995 Bay Road, Miami Beach, Florida 33139, United States
See Similar DealsMultiFamily9,112 SF
Sold 02/07/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$319
Total Square Footage:9,112 SF
Transaction Type:Sale
Located at 1995 Bay Dr in Miami Beach, FL, this multifamily property was recently sold in a closed transaction. The property spans a total of 9,112 square feet, with a price per square foot of $320. The sale took place on February 7, 2022, with Rubin Margules & Adam Margules purchasing the property from Aaron Kurlansky for a total price of $2,914,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,914,000
- Square Footage: 9,112
- Price Per Square Foot: $320
- Buyer: Rubin Margules & Adam Margules
- Seller: Aaron Kurlansky
- Transaction Date: February 7, 2022
- Address: 1995 Bay Dr, Miami Beach, FL
Rubin Margules & Adam Margules acted as the buyers in this transaction, while Aaron Kurlansky was the seller. The sale represents a successful deal in the Miami Beach market, reflecting the value and potential of the multifamily asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$155,413.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,352.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,813.85
Annual Debt Service$165,766.16
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