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2222 Northwest North River ...

Related ISG Realty Represents Ricardo Ratia In $7M Purchase Of Miami Multifamily Property
SOLDMultiFamily

Related ISG Realty Represents Ricardo Ratia In $7M Purchase Of Miami Multifamily Property

2222 Northwest North River Drive

$7,000,000

$318/SF

Building Size

22,000 SF

Asset Type

MultiFamily

Closing

Sep 1, 2022

AI

Located at 2222 NW N River Dr in Miami, this multifamily property was recently sold in a closed transaction for a price of $7,000,000. The property consists of 21 units, with an average price per unit of $333,333. The total square footage of the property is 22,000, resulting in a price per square foot of $318.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Units: 21
  • Price per Unit: $333,333
  • Square Footage: 22,000
  • Price per Square Foot: $318
  • Address: 2222 NW N River Dr, Miami

Ricardo Ratia was the buyer of this property, while the sellers were Francisco Rodriguez Melo and Robert Goldberg. Representing the buyer was Thomas Sulichin from Related ISG Realty.

Players

Tomas Sulichin

RelatedISG International Realty

Broker

$161.4M

vol

22 deals

Broker

Ricardo Ratia

Buyer

$52.9M

vol

4 deals

Buyer
B
BrickoneSeller

Robert Goldberg

Seller

$8.5M

vol

3 deals

Seller

Miami 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

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93