Updated Oct 25, 2024
Ernesto Conrad Acquires Multifamily Property In MiMo District, Miami For $1.35M
537 NE 66 St, Miami, Florida 33138, United States
$1,350,000
$283/SF
Building Size
4,763 SF
Asset Type
MultiFamily
Closing
Feb 9, 2022
About this deal
AI
Located in the MiMo District of Miami, this multifamily property at 537 NE 66 St has recently been sold in a transaction facilitated by Ernie Perez of Gridline Properties. The sale, which took place on February 10, 2022, involved the buyer Ernesto Conrad and the seller Thomas Neary.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Units: 8
- Price per Unit: $168,750
- Square Footage: 4,763
- Price per Square Foot: $283
This transaction marks an important milestone for both the buyer and the seller. Ernesto Conrad made a significant investment in acquiring this multifamily property. Meanwhile, Thomas Neary successfully completed the sale, realizing the value of the asset. Through the expertise of Ernie Perez from Gridline Properties, the deal was successfully negotiated and closed.
On the Map
$1,350,000
$283/SF
MultiFamily
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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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93