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2955 Bird Avenue,

Hassan Whiteside Acquires Coconut Grove Multifamily For $4.75M
SOLDMultiFamily

Hassan Whiteside Acquires Coconut Grove Multifamily For $4.75M

2955 Bird Avenue,

$4,750,000

$564/SF

Building Size

8,412 SF

Asset Type

MultiFamily

Closing

Sep 30, 2022

AI

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

Broker

$28M

vol

6 deals

Broker

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

3.34%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93