The asset involved in this transaction is a multifamily property located at 236 Northeast 28th Street in the Miami market. The sale price was $2,350,000, with the property consisting of 12 units and a total square footage of 5,550. The price per unit was $195,833, and the price per square foot amounted to $423.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,350,000
• Buyer: Roberto Perez
• Seller: Jacqueline Degwitz
• Broker Representatives: Robin Perez, Carlos Fausto Miranda & Vicente Rodriguez - Fausto Commercial Realty Consultants
• Units: 12
• Square Footage: 5,550
• Price Per Unit: $195,833
• Price Per Square Foot: $423

This transaction took 11 months to complete, following negotiations and verification of lien and violation information with the city. The brokers noted the property had been missing its 40-year recertification for over seven years and required extensive capital improvements. The listing price was initially set at $2.7 million, which garnered more than 20 offers, with the final bid coming in without any price reductions requested during the due diligence period.