Riad Belarbi Acquires Multifamily Property In Miami Beach For $9.25M
2101 Normandy Dr, Miami Beach, FL 33141, USA
$9,250,000
$203/SF
Building Size
45,513 SF
Asset Type
MultiFamily
Closing
May 3, 2020
AI
An multifamily property located at 2101 Normandy Dr in Miami Beach has been sold. The transaction took place on 05/04/2020, with a sale price of $9,250,000. The property spans a total area of 45,513 square feet, resulting in a price per square foot of $203.24. It consists of 49 units, and the price per unit stands at $188,775.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,250,000
- Address: 2101 Normandy Dr, Miami Beach
- Market: Miami Beach
- Square Footage: 45,513
- Price per Square Foot: $203.24
- Number of Units: 49
- Price per Unit: $188,775
The buyer for this transaction was Riad Belarbi, while the seller was Marc Shulman. The deal was facilitated by the broker @DecoGroupCommercial.
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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93