Updated May 12, 2025
Josh Stein & Sam Schwartz Acquires Multifamily Property In Normandy Isles, Miami Beach For $3.95M
2011 Bay Dr, Miami Beach, FL 33141, USA
$3,950,000
$315/SF
Building Size
12,508 SF
Asset Type
MultiFamily
Closing
Sep 1, 2022
About this deal
AI
This sale involved a multifamily asset located at 2011 Bay Dr in the Normandy Isles market of Miami Beach, featuring 15 units. The sale price was set at $3,950,000, with a price per unit of $263,333 and a total square footage of 12,508, resulting in a price per square foot of $316.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,950,000
- Units: 15
- PPU: $263,333
- SF: 12,508
- PPSF: $316
- Buyer: Josh Stein & Sam Schwartz
- Seller: Zachariha Cohen
The transaction was represented by Josh Stein and Sam Schwartz, who acted on behalf of the buyer, while the seller was represented by Zachariha Cohen in this deal.
Players
Miami 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
4.02%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93