Federico Olivieri And Victor Sandoval Purchase Multifamily Asset In Miami Beach For $2.5M
222 28th Street
$2,500,000
$378/SF
Building Size
6,600 SF
Asset Type
MultiFamily
Closing
Mar 28, 2025
AI
The property asset involved in this transaction is a multifamily building located at 222 28th Street in the Miami Beach market. The sale price reached $2,500,000 for the asset, which has a total area of 6,600 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 222 28th Street
- Market: Miami Beach
- Buyer: Federico Olivieri and Victor Sandoval
- Seller: Andrea Lucana Morales
- Brokers: Joseph Thomas, Alec Demetriou, and Adam Marcuvitz - Marcus & Millichap
The deal was facilitated by the brokerage team of Joseph Thomas, Alec Demetriou, and Adam Marcuvitz, representing the buyer and seller in this transaction. Their expertise in the Miami Beach market contributed to the successful completion of this sale.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93