Updated Oct 29, 2024
Arcadia Real Estate FL LLC Acquires Multifamily Property In Sunny Isles Beach For $7.56M
225 179th Drive, Sunny Isles Beach, FL, USA
$7,560,000
$183/SF
Building Size
41,105 SF
Asset Type
MultiFamily
Closing
Jan 20, 1920
About this deal
AI
Located in Sunny Isles Beach, the multifamily property at 225 179th Drive has recently been sold. The transaction took place on January 21, 2020. The property, encompassing 41,105 square feet, was sold for a price of $7,560,000, resulting in a price per square foot of $183.91. The buyer of the property is Arcadia Real Estate FL LLC, while the seller is Bella Apartments LLC, represented by Riad Belarbi. It is worth mentioning that Keystone Real Estate Income Trust provided a $5.2 million loan to the buyer.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,560,000
- Address: 225 179th Drive
- Market: Sunny Isles Beach
Arcadia Real Estate FL LLC played the role of the buyer in this transaction, while Bella Apartments LLC, represented by Riad Belarbi, acted as the seller. The loan amount provided by Keystone Real Estate Income Trust to the buyer was $5.2 million.
On the Map
$7,560,000
$183/SF
MultiFamily
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Sunny Isles 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
2.10%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93