Greenstone Companies Acquires Multifamily Property In North Beach, Miami Beach For $41M
700 78th Street, North Beach, Miami Beach, FL, USA
$41,000,000
$295/SF
Building Size
138,904 SF
Asset Type
MultiFamily
Closing
Aug 31, 2021
AI
The property involved in this transaction is a multifamily asset located at 700 & 715 78th street; 7745, 7750, 7770-7772 & 7790 Tatum Waterway in the North Beach area of Miami Beach. The sale took place on August 31, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $41,000,000
- Square Footage: 138,904
- Price Per Square Foot: $295
- Number of Units: 186
Greenstone Companies, led by Yoni Greenwald, acquired the property from Ytech, represented by Yamal Yidios. The sale was facilitated by brokers Calum Weaver and Perry Synanidis from Cushman & Wakefield.
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93