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720 West 16th Street

Updated Dec 4, 2024

Alejandro Gershanik Buys Multifamily Property In Hialeah For $5.28M From Manuel Calas
SOLDMultiFamily

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

17,408 SF

Asset Type

MultiFamily

Closing

May 1, 2024

About this deal

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.

On the Map

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$5,280,000

$151/SF

MultiFamily

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Players

Alejandro Gershanik

BM2 Realty

Broker

$118.4M

vol

39 deals

Broker
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Hialeah MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $151 per square foot on a published $5.3M for 34,816 square feet (2024).

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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

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