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Luis Puig Acquires Multifamily Property In Miami Beach For $5.6M

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SOLD
$5,567,000

Florida

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MultiFamily15,000 SF
Sold 08/16/2021
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SOLD

Luis Puig Acquires Multifamily Property In Miami Beach For $5.6M

333 Jefferson Avenue, Miami Beach, FL 33139

See Similar Deals
MultiFamily15,000 SF
Sold 08/16/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$371
Total Square Footage:15,000 SF
Transaction Type:Sale

A multifamily property located at 333 Jefferson Ave in Miami Beach has recently been sold. The property consists of 20 units with a total area of 15,000 square feet. The sale price for this transaction was $5,567,000, resulting in a price per unit of $278,350 and a price per square foot of $19. The seller, Nathan Cohen, sold the property to the buyer, Luis Puig.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,567,000
  • Address: 333 Jefferson Ave, Miami Beach
  • Market: Miami Beach

Gema Ruiz and Arnold Miranda from Cedano Realty Advisors acted as the brokers in this deal. They represented both the buyer and the seller in the transaction. The sale was closed on August 16, 2021.

For further information about other opportunities or to get in touch with Gema Ruiz and Arnold Miranda, you can contact them directly at 786-443-6768.

Cedano Realty Advisors, a boutique firm led by Frank Melo, CCIM, specializes in multifamily sales and retail transactions. You can find more about their services on their website: www.cedanocre.com.

Players

Gema Ruiz
6 deals$26.2M volume
BROKER

Details

SOLD
IMAGE: Arnold Miranda, Gema Ruiz & Frank Melo DATE: 08/16/2021 ADDRESS: 333 Jefferson Ave MARKET: Miami Beach ASSET TYPE: Multifamily BUYER: Luis Puig SELLER: Nathan Cohen BROKERS: Gema Ruiz & Arnold Miranda (@Arnold_Miranda_Real_Estate_) - Cedano Realty Advisors (@Multifamily_Florida) ASKING PRICE: $5,907,000 SALE PRICE: $5,567,000 UNITS: 20 ~ PPU: $278,350 SF: 15,000 ~ PPSF: $19 NOTE: Just Sold multifamily South Of Fifth Miami Beach location. Contact Gema Ruiz & Arnold Miranda directly at 786-443-6768 for other opportunities. Cedano Realty Advisors a Boutique firm led by Frank Melo, CCIM specializing in Multifamily sales and Retail transactions http://www.cedanocre.com

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,778.37
Cash-on-Cash Return-1.27%
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