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1995 Bay Road, Miami Beach,...

Rubin Margules & Adam Margules Acquire Multifamily Property In Miami Beach For $2.9M
SOLDMultiFamily

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

Aaron Kurlansky

Sheridan Capital

Broker

$588.1M

vol

20 deals

Broker

Rubin Margules

Buyer

$15.5M

vol

2 deals

Buyer

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