Aria Development Acquires Multifamily Property On Brickell Avenue In Miami For $12.75M
SOLD
$12,750,000
Florida
See Similar DealsMultiFamily4,651 SF
Sold 01/30/2021
SOLD
Aria Development Acquires Multifamily Property On Brickell Avenue In Miami For $12.75M
2200 Brickell Avenue, Brickell, Miami, FL, USA
See Similar DealsMultiFamily4,651 SF
Sold 01/30/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,741
Total Square Footage:4,651 SF
Transaction Type:Sale
The multifamily property located at 2200, 2222, and 2250 Brickell Avenue in Brickell, Miami has been sold in a recent transaction. The sale was facilitated by brokers Dora Puig and TJ Estavillo.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $12,750,000
- Units: 34
- Price per Unit: $375,000
- Buyer: Aria Development
- Seller: Ram & Associates
- Brokers: TJ Estavillo & Dora Puig
- Date: 01/30/2021
- Market: Brickell, Miami
The buyer involved in this transaction is Aria Development, while the seller is Ram & Associates. The property consists of 34 units, with a sale price of $12,750,000, equivalent to a price per unit of $375,000. The brokers TJ Estavillo and Dora Puig represented the respective parties in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,441.50
Annual Debt Service$725,298.06
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