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2180 Bay Drive

Josh Stein And Michael Stein Sell Normandy Isles Multifamily For $6.8M With Max Loria & Sam Schwartz Of DWNTWN Realty Advisors
SOLDMultiFamily

Josh Stein And Michael Stein Sell Normandy Isles Multifamily For $6.8M With Max Loria & Sam Schwartz Of DWNTWN Realty Advisors

2180 Bay Drive

$6,800,000

$429/SF

Building Size

15,832 SF

Asset Type

MultiFamily

Closing

Aug 29, 2022

AI

Located at 2180 Bay Dr in Normandy Isles, this multifamily property was recently sold in a closed transaction. The property consists of 18 units with a total square footage of 15,832. The sale price for this transaction was recorded at $6,800,000, resulting in a price per unit of approximately $377,778 and a price per square foot of $430.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $6,800,000
  • Units: 18
  • Price per Unit: $377,778
  • Square Footage: 15,832
  • Price per Square Foot: $430

The sale of this property was facilitated by brokers Max Loria and Sam Schwartz from DWNTWN Realty Advisors. They represented the sellers, Josh Stein and Michael Stein, in this transaction.

Players

Sam Schwartz

STL Commercial

Broker

$23.2M

vol

5 deals

Broker
Michael Stein

Michael Stein

Pensam Capital

Seller

$96.9M

vol

5 deals

Seller

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

2.33%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93