Bowery Properties Acquires Multifamily Property In Miami For $11.6M
SOLD
$11,600,000
Florida
See Similar DealsMultiFamily47,146 SF
Sold 07/28/2020
SOLD
Bowery Properties Acquires Multifamily Property In Miami For $11.6M
5601 Northwest 1st Avenue, Miami, FL 33127, USA
See Similar DealsMultiFamily47,146 SF
Sold 07/28/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$246
Total Square Footage:47,146 SF
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$618,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,212.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,989.92
Annual Debt Service$659,879.02
Is there something missing? Send suggestions