Updated Dec 4, 2024
Safehold Acquires Multifamily Property In North Bay Village For $122M
8000 West Drive, North Bay Village, FL 33141, USA
$122,000,000
$621/SF
Building Size
196,456 SF
Asset Type
MultiFamily
Closing
Dec 8, 2021
About this deal
AI
The multifamily property located at 8000 West Drive in North Bay Village has been sold in a closed transaction. The property spans across 4.5 acres and is situated in a desirable location.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $122,000,000
- Number of Units: 285
- Price Per Unit: $428,070
The buyer of the property was Safehold, while the seller was Clarion Partners represented by David Gilbert. The sale price for the property was $122,000,000, with a total of 285 units. This translates to a price per unit of $428,070.
This transaction showcases the involvement of key individuals and companies in the deal. Safehold served as the buyer, while Clarion Partners, with David Gilbert as their representative, acted as the seller. The successful completion of this sale highlights the continuous activity and value within the North Bay Village market.
On the Map
$122,000,000
$621/SF
MultiFamily
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Players
North Bay Village 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93