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611 Forrest Drive

Alfred Sayegh Purchases MultiFamily Property At 611 Forrest Drive From Carmine De Michele For $4.7M
SOLDMultiFamily

Alfred Sayegh Purchases MultiFamily Property At 611 Forrest Drive From Carmine De Michele For $4.7M

611 Forrest Drive

$4,700,000

$145/SF

Building Size

32,250 SF

Asset Type

MultiFamily

Closing

Aug 9, 2017

AI

The property involved in this transaction is a MultiFamily asset located at 611 Forrest Drive in the Miami Springs market. The total price for the property was $4,700,000.00, and it encompasses a square footage of 32,250.

Summary of transaction details:

Alfred Sayegh acted as the buyer in this transaction, while Carmine De Michele was the seller. Arthur Porosoff represented the buyer in this deal, facilitating the transaction between the parties involved.

Players

Arthur Porosoff

Broker
Broker

Alfred Sayegh

Buyer

$25.1M

vol

3 deals

Buyer

Carmine De Michele

Seller
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

3.38%

Cash-on-Cash

-0.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93