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:
- Property Type: MultiFamily
- Transaction Amount: $4,700,000.00
- Address: 611 Forrest Drive
- Market: Miami Springs
- Asset Size: 32,250 SF
- Buyer: Alfred Sayegh
- Seller: Carmine De Michele
- Broker: Arthur Porosoff
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
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