Rubin Margules & Adam Margules Acquire Multifamily Property In Miami Beach For $2.9M
1995 Bay Road, Miami Beach, Florida 33139, United States
$2,914,000
$319/SF
Building Size
9,112 SF
Asset Type
MultiFamily
Closing
Feb 6, 2022
AI
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.
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
5.44%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93