Drew Levey & Norman Ginsparg Acquire Multifamily Property In Miami,FL For $5.02M
402 Northwest 12th Avenue, Miami, Florida 33128, United States
$5,022,500
$355/SF
Building Size
14,117 SF
Asset Type
MultiFamily
Closing
Oct 4, 2022
AI
The multifamily property located at 402 NW 12th Ave in Miami, FL was recently sold. The property spans 14,117 square feet with a price per square foot of $355. The transaction took place on October 5, 2022, and the total sale price amounted to $5,022,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,022,500
- Address: 402 NW 12th Ave, Miami, FL
- Market: Miami, FL
- Square Footage: 14,117 SF
- Price per Square Foot: $355
The buyers of the property were Drew Levey & Norman Ginsparg, while the sellers were Michael Frohlinger & Steven Frohlinger.
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
3.16%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93