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611 Forrest Drive

German Guzman Purchases Miami Springs Multifamily Property From Alfred Sayegh For $7 Million
SOLDMultiFamily

German Guzman Purchases Miami Springs Multifamily Property From Alfred Sayegh For $7 Million

611 Forrest Drive

$7,000,000

$217/SF

Building Size

32,250 SF

Asset Type

MultiFamily

Closing

Jun 2, 2022

AI

The property asset involved in this transaction is a MultiFamily building located at 611 Forrest Drive in Miami Springs. The asset spans a total square footage of 32,250 and was sold for $7,000,000.00.

Summary of transaction details:

The individuals involved in the transaction include buyer German Guzman and seller Alfred Sayegh, with the deal facilitated by brokers Arthur Porosoff and Javier Ubeda.

Players

Arthur Porosoff

Broker
Broker

German Guzman

Buyer

$56.6M

vol

3 deals

Buyer

Alfred Sayegh

Seller

$25.1M

vol

3 deals

Seller

Miami Springs 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

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93