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2900 Northwest 7th Street, ...

Izhak Wanounou Acquires Miami Multifamily From Gilbert Contreras For $9.4M
SOLDMultiFamily

Izhak Wanounou Acquires Miami Multifamily From Gilbert Contreras For $9.4M

2900 Northwest 7th Street, Miami, Florida 33126, United States

$9,400,000

$163/SF

Building Size

57,568 SF

Asset Type

MultiFamily

Closing

May 19, 2022

AI

A multifamily property located at 2900 NW 7th St in Miami has been sold for a total price of $9,400,000. The property consists of 35 units with an average price per unit of $268,571. The total square footage of the property is 57,568, with a price per square foot of $163.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,400,000
  • Address: 2900 NW 7th St, Miami
  • Market: Miami

The buyer of the property is Izhak Wanounou, while the seller is Gilbert Contreras. Rafael Fermoselle and Sharif Bula from ElevenTrust Real Estate Services represented the buyer, while Mauricio Villasuso and Carlos Fausto Miranda from Fausto Commercial represented the seller.

Players

Carlos Fausto Miranda

Fausto Commercial Realty Consultants

Broker

$239.3M

vol

54 deals

Broker

Gilbert A. Contreras

Seller

$17.7M

vol

3 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

1.69%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93