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Hassan Whiteside Acquires Coconut Grove Multifamily For $4.75M

Property Image
SOLD
$4,750,000
Ryan Kelly
Jill Penman
Hassan Whiteside

Florida

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MultiFamily8,412 SF
Sold 09/30/2022
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Property Image
SOLD

Hassan Whiteside Acquires Coconut Grove Multifamily For $4.75M

2955 Bird Avenue,

See Similar Deals
MultiFamily8,412 SF
Sold 09/30/2022
Ryan Kelly
Jill Penman
Hassan Whiteside
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$564
Total Square Footage:8,412 SF
Transaction Type:Sale

Jill Penman of One Sotheby's International Realty and Ryan Kelly of Douglas Elliman represented the buyer and seller, respectively, in the recent sale of a multifamily property located at 2955 Bird Avenue in Coconut Grove. The property consists of 6 units, with a total area of 8,412 square feet. The sale price for the property was $4,750,000, resulting in a price per unit of $791,667 and a price per square foot of $565.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,750,000
  • Units: 6
  • Price per Unit: $791,667
  • Square Footage: 8,412
  • Price per Square Foot: $565

Hassan Whiteside served as the buyer in this transaction, while Joseph Genova acted as the seller. Jill Penman represented the buyer as the broker from One Sotheby's International Realty, and Ryan Kelly represented the seller as the broker from Douglas Elliman.

Players

Jill Penman
Sotheby's International Realty
Jill Penman
6 deals$28M volume
BROKER
Ryan Kelly
Douglas Elliman
Ryan Kelly
4 deals$8.7M volume
BROKER

Details

SOLD
IMAGE: Jill Penman & Ryan Kelly DATE: 09/30/2022 ADDRESS: 2955 Bird Avenue MARKET: Coconut Grove ASSET TYPE: Multifamily BUYER: Hassan Whiteside SELLER: Joseph Genova BROKERS: Jill Penman (@Jill.Penman) - One Sotheby's International Realty; Ryan Kelly (@ClosingMiami) Douglas Elliman SALE PRICE: $4,750,000 UNITS: 6 ~ PPU: $791,667 SF: 8,412 ~ PPSF: $565

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
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