David Shabtian Purchases Multifamily Asset From Thomas Lanigan For $6.4 Million In Miami Beach
6834 Harding Avenue
$6,700,000
$310/SF
Building Size
21,566 SF
Asset Type
MultiFamily
Closing
Apr 9, 2025
AI
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
Miami Beach 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
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93