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2260 Northwest North River ...

Ricardo Ratia Acquires Multifamily Property In Miami For $7M
SOLDMultiFamily

Ricardo Ratia Acquires Multifamily Property In Miami For $7M

2260 Northwest North River Drive, Miami, Florida 33125, United States

$7,000,000

$160/SF

Building Size

43,560 SF

Asset Type

MultiFamily

Closing

Aug 30, 2022

AI

The multifamily property located at 2260 & 2222 Northwest North River Drive in Miami has been sold for a price of $7,000,000. Spanning over one acre, the property consists of three buildings and offers 15 private marinas. The transaction took place on 08/31/2022 and was completed by buyer Ricardo Ratia and seller Bobby Goldberg. The deal was facilitated by brokers Alessandra Bavetta from ISG World and Tomas Sulichin from RelatedISG Realty.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Market: Miami
  • Square Footage: 43,560
  • Price Per Square Foot: $161
  • Buyer: Ricardo Ratia
  • Seller: Bobby Goldberg
  • Brokers: Alessandra Bavetta - ISG World, Tomas Sulichin - RelatedISG Realty

This sale marks the sixth property sold in Miami River within the past year for Tomas Sulichin. The property was listed and sold within a record time of one week, with zero days on the market.

Players

Tomas Sulichin

RelatedISG International Realty

Broker

$161.4M

vol

22 deals

Broker

Ricardo Ratia

Buyer

$52.9M

vol

4 deals

Buyer

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