Updated Nov 28, 2024
Related Group Acquires Multifamily Property In Miami For $35.75M
390 Northwest 2nd Street, Miami, FL 33128, USA
$35,750,000
$250,000/SF
Building Size
143 SF
Asset Type
MultiFamily
Closing
Jul 28, 2020
About this deal
AI
The multifamily property located at 390 NW 2nd St in Miami has been sold for a total of $35,750,000. The transaction took place on July 28, 2021, and involved 143 units. The price per unit was approximately $236,014.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,750,000
- Address: 390 NW 2nd St, Miami
- Market: Miami
The buyer of the property is the Related Group, represented by J.P. Pérez, Jorge Pérez, Jeff Blau, and Stephen Ross. On the other hand, the seller is J.I. Kislak. This transaction marks an important deal between these key individuals and companies in the real estate industry.
Players
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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93