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565 West 51st Place, Hialea...

Puchero Corp. Acquires Multifamily Property In Hialeah For $17.2M
SOLDMultiFamily

Puchero Corp. Acquires Multifamily Property In Hialeah For $17.2M

565 West 51st Place, Hialeah, Florida 33012, United States

$17,200,000

Building Size

Asset Type

MultiFamily

Closing

Sep 7, 2022

AI

Located in Hialeah, the recently closed transaction involved the sale of a multifamily property at 565 West 51st Place, 643, 651 & 725 West 29th Street. Marty Caparros represented the seller, Prestige Companies, in the deal. The buyer was Puchero Corp., with representation from Alberto Arceo. The transaction was facilitated with the help of Ocean Bank as the lender. The sale price for the property was $17,200,000, which equates to a price per unit of $200,000. The property consists of 86 units in total.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,200,000
  • Date: 09/08/2022
  • Address: 565 West 51st Place, 643, 651 & 725 West 29th Street, Hialeah
  • Market: Hialeah
  • Buyer: Puchero Corp. - Alberto Arceo
  • Seller: Prestige Companies - Marty Caparros
  • Lender: Ocean Bank
  • Units: 86
  • Price per Unit: $200,000

This transaction showcases the collaboration between Puchero Corp., led by Alberto Arceo, as the buyer, and Marty Caparros, representing the seller, Prestige Companies. Ocean Bank provided the necessary financing for the deal. The sale of this multifamily property at 565 West 51st Place, 643, 651 & 725 West 29th Street, Hialeah, demonstrates the thriving real estate market in the area.

Players

Alberto Arceo

Buyer

$20.2M

vol

2 deals

Buyer
PC
Prestige CompaniesSeller

Hialeah MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.92%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93