Updated May 12, 2025
Bowery Properties Acquires Multifamily Property In Miami For $11.6M
5601 Northwest 1st Avenue, Miami, FL 33127, USA
$11,600,000
$246/SF
Building Size
47,146 SF
Asset Type
MultiFamily
Closing
Jul 28, 2020
About this deal
AI
The multifamily property located at 5601 NW First Ave. in Miami has been sold for $11,600,000. This transaction involves a total of 89 units, resulting in a price per unit of $130,337.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $11,600,000
- Units: 89
- Price Per Unit: $130,337
- Buyer: Bowery Properties - Thomas Neary
- Seller: Secamar LLC
- Broker: Skyler Marinoff - DWNTWN Realty Advisors
The transaction was coordinated by Skyler Marinoff representing DWNTWN Realty Advisors, highlighting the key role of the broker in facilitating the deal. The buyer, Bowery Properties led by Thomas Neary, acquired the asset from Secamar LLC.
On the Map
$11,600,000
$246/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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93