Updated Oct 28, 2024
Air Communities Acquires Edgewater Multifamily For $211M
2150 North Bayshore Drive, Miami, Florida, United States
$211,000,000
Units
296
Asset Type
MultiFamily
Closing
Jun 7, 2022
About this deal
AI
Located at 2150 North Bayshore Drive in Edgewater, this multifamily property spans over 2 acres. The transaction took place on 06/08/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $211,000,000
- Address: 2150 North Bayshore Drive
- Market: Edgewater
- Size: 2 acres
Air Communities, represented by Terry Considine, acquired the property from Mill Creek Residential, represented by William MacDonald. The sale included 296 units, resulting in a purchase price per unit of $712,838.
The multifamily sale at 2150 North Bayshore Drive, Miami, Florida, United States in Miami, Florida sold for $211M in 2022. Reported inventory is 296 units across 296 units. Named participants on the 2150 North Bayshore Drive, Miami, Florida, United States sale are Terry Considine, William MacDonald. This page is the Miami, Florida file for the 2150 North Bayshore Drive, Miami, Florida, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Miami sit in the Market section below. Filter that Miami multifamily set by closing date to see what else sold near 2150 North Bayshore Drive, Miami, Florida, United States around 2022. Published consideration for 2150 North Bayshore Drive, Miami, Florida, United States is $211M, dated 2022. Cite this Air Communities Acquires Edgewater Multifamily For $211M sale when underwriting similar multifamily product around Miami, Florida.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93