Respark Residential Acquires Greystone Property At 2500 Biscayne Blvd Miami For $67M
2500 Biscayne BLVD, Miami, FL, 33137
$67,000,000
$198/SF
Building Size
337,120 SF
Asset Type
MultiFamily
Closing
Dec 3, 2021
AI
The property asset involved in this transaction is located at 2500 Biscayne Blvd, Miami, FL, 33137. The sale price for the property was $67,000,000.00, with a total square footage of 337,120. This property is situated in the Miami market.
Summary of transaction details:
- Property Type: Closed Transaction
- Transaction Amount: $67,000,000.00
- Address: 2500 Biscayne Blvd, Miami, FL, 33137
- Market: Miami
- Seller: Greystone
- Buyer: Respark Residential
- Seller's Representative: Jose Mota & Jaret Turkell - Berkadia
This deal was facilitated by the representatives from Berkadia, specifically Jose Mota and Jaret Turkell, who represented the seller, Greystone. The buyer, Respark Residential, acquired the property as part of their investment portfolio strategy.
Players
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93