Updated Oct 28, 2024
IMC Equity Group Acquires Multifamily Property In Marathon For $40M
6973 Overseas Highway, Marathon, Florida 33050, United States
$40,000,000
$246/SF
Building Size
162,000 SF
Asset Type
MultiFamily
Closing
Dec 15, 2021
About this deal
AI
The multifamily property located at 6973 Overseas Hwy in Marathon has been sold for $40,000,000. The property consists of 106 units with a price per unit of $377,358. The total square footage of the property is 162,000, resulting in a price per square foot of $247. The sale was completed on 12/15/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 6973 Overseas Hwy
- Market: Marathon
- Units: 106
- Price per Unit: $377,358
- Square Footage: 162,000
- Price per Square Foot: $247
The buyer of the property is IMC Equity Group, represented by Miri Brecher. The seller, Index Investment Group, was represented by Jill Douglas from Coldwell Banker Realty.
On the Map
$40,000,000
$246/SF
MultiFamily
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Players
Marathon 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93