Updated Oct 29, 2024
Aimco Acquires Edgewater Multifamily Property For $100M
555 NE 34th St, Miami, FL 33137, USA
$100,000,000
$162/SF
Building Size
615,785 SF
Asset Type
MultiFamily
Closing
Aug 25, 2020
About this deal
AI
Located at 555 NorthEast 34th Street in the Edgewater market, this multifamily property was recently sold for a staggering price of $100,000,000. The transaction involved a total of 275 units, resulting in an average price per unit of $363,636.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $100,000,000
- Units: 275
- Price Per Unit: $363,636
The seller of this property was Properties of Hamilton, while the buyer was Aimco, represented by Melody Carley. The deal was facilitated by Rani Hussami from the Hussami Rockson Group, which is a part of Marcus & Millichap.
On the Map
$100,000,000
$162/SF
MultiFamily
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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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93