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421 Northeast 73rd Street, ...

Danielle El-Naffy Acquires Multifamily In Miami For $1.9M
SOLDMultiFamily

Danielle El-Naffy Acquires Multifamily In Miami For $1.9M

421 Northeast 73rd Street, Miami, Florida 33138, United States

$1,920,250

$519/SF

Building Size

3,700 SF

Asset Type

MultiFamily

Closing

Feb 23, 2022

AI

The multifamily property located at 421 NE 73rd St in Miami has been sold for a price of $1,920,250. The property consists of 7 units with a total square footage of 3,700. The sale price per unit is $274,321, and the price per square foot is $519. The property is situated in the Upper East Side North submarket.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,920,250
  • Address: 421 NE 73rd St
  • Market: Miami

The buyer of the property is Danielle El-Naffy, while the seller is Mike Zikri. The broker involved in the transaction is Virgilio Fernandez from Colliers. Colliers played a crucial role in helping their client achieve record pricing for the asset.

Players

Virgilio Fernandez

Cushman & Wakefield

Broker

$222.9M

vol

42 deals

Broker

Mike Zikri

Seller

$7.3M

vol

3 deals

Seller

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.26%

Cash-on-Cash

-2.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93