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David Shabtian Purchases Multifamily Asset From Thomas Lanigan For $6.4 Million In Miami Beach

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SOLD
$6,700,000

Florida

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MultiFamily21,566 SF
Sold 04/09/2025
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SOLD

David Shabtian Purchases Multifamily Asset From Thomas Lanigan For $6.4 Million In Miami Beach

6834 Harding Avenue

See Similar Deals
MultiFamily21,566 SF
Sold 04/09/2025
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$310
Total Square Footage:21,566 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily asset located at 6834-6854 Harding Avenue in Miami Beach, featuring 32 units. The sale price of the asset was $6,400,000, with a price per unit of $200,000. The total square footage of the property is 21,566, resulting in a price per square foot of $297. Summary of transaction details: Property Type: Multifamily Transaction Amount: $6,400,000 Units: 32 Price Per Unit: $200,000 Square Footage: 21,566 Price Per Square Foot: $297 Buyer: David Shabtian Seller: Thomas Lanigan Brokers: Gabriel Pena, Connor Kerns & Austin Graham - Matthews Real Estate Investment Services The transaction was facilitated by three brokers, Gabriel Pena, Connor Kerns, and Austin Graham, all representing Matthews Real Estate Investment Services, showcasing their expertise in handling multifamily property transactions in the Miami Beach market.

Players

Connor Kerns
5 deals$59.6M volume
BROKER

Gabriel Pena
Matthews
9 deals$28.1M volume
BROKER

Austin Graham
Matthews
8 deals$78.2M volume
BROKER

Details

SOLD
IMAGE: Connor Kerns, Gabriel Pena & Austin Graham DATE: 04/09/2025 ADDRESS: 6834-6854 Harding Avenue MARKET: Miami Beach ASSET TYPE: Multifamily BUYER: David Shabtian SELLER: Thomas Lanigan BROKERS: Gabriel Pena (@GabePena.jpeg), Connor Kerns (@Kerns_Aye) & Austin Graham (@Austin_Graham) - Matthews Real Estate Investment Services (@Matthews_REIS) SALE PRICE: $6,400,000 UNITS: 32 ~ PPU: $200,000 SF: 21,566 ~ PPSF: $297

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$357,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02