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2270 Ne 171th St

Debirah Cimadevilla Purchases MultiFamily Asset In North Miami Beach From Michael Spetko For $1,575,000
SOLDMultiFamily

Debirah Cimadevilla Purchases MultiFamily Asset In North Miami Beach From Michael Spetko For $1,575,000

2270 Ne 171th St

$1,575,000

$73/SF

Building Size

21,358 SF

Asset Type

MultiFamily

Closing

Dec 9, 2013

AI

The property asset involved in the transaction is located at 2270 Ne 171th St, North Miami Beach. The transaction closed at a price of $1,575,000.00 for a multifamily asset with a total square footage of 21,358.

Summary of transaction details:

The deal featured Debirah Cimadevilla as the buyer and Michael Spetko as the seller, with representation from Arthur Porosoff, Rafael Fermoselle of ElevenTrust Real Estate Services, and Felipe Echarte of Marcus & Millichap.

Players

Felipe Echarte

Marcus & Millichap

Broker

$377.4M

vol

52 deals

Broker

Debirah Cimadevilla

Buyer
Buyer

Michael Spetko

Seller

$12.2M

vol

4 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

10.07%

Cash-on-Cash

-2.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93