Harbor Group International Acquires Multifamily Property In Brickell, Miami For $184.5M
255 Southwest 11th Street, Miami, Florida 33135, United States
$184,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 20, 2022
AI
A multifamily property located at 255 SW 11th St in Brickell, Miami, was recently sold in a closed transaction. The sale took place on July 21, 2022, and the property was acquired by Harbor Group International, LLC for a purchase price of $184,500,000. The property consists of 372 units, resulting in a per-unit price of approximately $495,968.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $184,500,000
- Units: 372
- Price Per Unit: $495,968
Richard Litton represented Harbor Group International, LLC as the buyer's representative in this transaction.
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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93