Updated Aug 18, 2026
Carlo Bianco Acquires MultiFamily Property At 557 Michigan Ave Miami Beach For $1,540,000
557 Michigan Ave
$1,540,000
$141/SF
Building Size
10,902 SF
Asset Type
MultiFamily
Closing
Jul 28, 2011
About this deal
AI
The asset involved in this transaction is a MultiFamily property located at 557 Michigan Ave in the Miami Beach market. The property encompasses a square footage of 10,902 and was sold for a price of $1,540,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,540,000.00
- Address: 557 Michigan Ave
- Market: Miami Beach
- Square Footage: 10,902
- Buyer: Carlo Bianco
- Seller: Angel Portas
- Broker: Arthur Porosoff
The transaction was facilitated by the broker Arthur Porosoff, who represented the involved parties in this deal. Carlo Bianco emerged as the buyer, while Angel Portas was the seller of the property.
Players
Miami Beach 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
10.30%
Cash-on-Cash
-2.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93