Westdale Acquires Multifamily Property In Blue Lagoon, Miami For $93.8M
SOLD
$93,834,183
Florida
See Similar DealsMultiFamily47,916 SF
Sold 08/16/2021
SOLD
Westdale Acquires Multifamily Property In Blue Lagoon, Miami For $93.8M
5375 Northwest 7th Street, Miami, FL, USA
See Similar DealsMultiFamily47,916 SF
Sold 08/16/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,958
Total Square Footage:47,916 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily unit located at 5375 NW 7th St in the Blue Lagoon market of Miami. The sale price for the asset was $93,834,183, consisting of 330 units, resulting in a price per unit of $284,346.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $93,834,183
- Address: 5375 NW 7th St
- Market: Blue Lagoon, Miami
- Units: 330
- Price Per Unit: $284,346
- Buyer: Westdale
- Seller: Estate Companies
- Brokers: Neyda Bravo & Luis Gonzalez - Bravo & Partners Realty
This transaction was facilitated by Neyda Bravo and Luis Gonzalez, who represented the seller, Estate Companies. Their involvement was crucial in bringing the buyer, Westdale, and seller together to successfully complete the deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,004,489.78
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$333,373.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$444,821.90
Annual Debt Service$5,337,862.79
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