Updated Dec 21, 2023
MG Developer Acquires Multifamily Property In Coral Gables For $19.25M
33 Alhambra Circle, Coral Gables, Florida 33134, United States
$19,250,000
$3,222/SF
Building Size
5,974 SF
Asset Type
MultiFamily
Closing
Jun 15, 2022
About this deal
AI
Located at 33 Alhambra Cir in Coral Gables, this multifamily property was recently sold in a closed transaction. The property features a total of 31 units, and the sale price was $19,250,000. This translates to a per unit price of $620,968.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $19,250,000
- Units: 31
- Price Per Unit: $620,968
- Market: Coral Gables
The buyers involved in this transaction were MG Developer represented by Alirio Torrealba, Knighthead Funding represented by Brian Sullivan, and VYV represented by Cesar Paniagua.
Players
Coral Gables 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
0.82%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93