Alejandro Gershanik Buys Multifamily Property In Hialeah For $5.28M From Manuel Calas
720 West 16th Street & 735 West 15th Street
$5,280,000
$151/SF
Building Size
34,816 SF
Asset Type
MultiFamily
Closing
May 1, 2024
AI
The multifamily property located at 720 West 16th Street & 735 West 15th Street in Hialeah, with a total of 24 units spanning 17,408 square feet, was sold for $5,280,000. The sale price equates to $220,000 per unit and $303 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,280,000
- Units: 24
- Price per Unit: $220,000
- Square Footage: 17,408
- Price per Square Foot: $303
- Address: 720 West 16th Street & 735 West 15th Street
- Market: Hialeah
- Buyer: Alejandro Gershanik
- Seller: Manuel Calas
- Buyer's Rep: Alejandro Gershanik - BM2 Realty
- Seller's Rep: Miguel Solis - Douglas Elliman
Alejandro Gershanik represented himself and BM2 Realty in the transaction as the buyer's representative, while Miguel Solis of Douglas Elliman acted as the seller's representative, facilitating the deal between Alejandro Gershanik and Manuel Calas.
Players
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.00%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93