Westdale Twenty2 Acquires Multifamily Property In West Miami From The Estate Companies - Robert Suris, Jeffrey Ardizon & Tony Castro For $97M
SOLD
$97,000,000
Florida
See Similar DealsMultiFamily423,104 SF
Sold 04/15/2021
SOLD
Westdale Twenty2 Acquires Multifamily Property In West Miami From The Estate Companies - Robert Suris, Jeffrey Ardizon & Tony Castro For $97M
2201 Ludlam Rd, Miami, FL, USA
See Similar DealsMultiFamily423,104 SF
Sold 04/15/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$229
Total Square Footage:423,104 SF
Transaction Type:Sale
The multifamily property located at 2201 Ludlam Rd. in West Miami was recently sold in a closed transaction. This property, consisting of 338 units, was sold for a total price of $97,000,000. The sale price per unit was calculated to be approximately $286,982. The transaction took place on April 15, 2021 and involved the buyer Westdale Twenty2 and the seller The Estate Companies, represented by Robert Suris, Jeffrey Ardizon, and Tony Castro.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $97,000,000
- Address: 2201 Ludlam Rd.
- Market: West Miami
This successful sale was facilitated by the brokers Neyda Bravo and Lu Gonzo from Bravo & Partners.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,173,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$344,620.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$459,829.49
Annual Debt Service$5,517,953.85
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