Dermot Co. Acquires Multifamily Property In Doral For $160M
8111 Northwest 53rd Street, Doral, FL, USA
$160,000,000
$823/SF
Building Size
194,278 SF
Asset Type
MultiFamily
Closing
Sep 30, 2021
AI
Dermot Co., a real estate investment company, has acquired a multifamily property in Doral, Florida. The property, located at 8100 & 8111 NW 53rd St, spans across 4.46 acres in the vibrant market of Doral. The transaction was completed on September 30, 2021, for a total sale price of $160,000,000.
Summary of transaction details
- Asset Type: Multifamily
- Address: 8100 & 8111 NW 53rd St, Doral
- Market: Doral
- Sale Price: $160,000,000
- Units: 454
- Price per unit: $352,423
The buyer in this transaction is Dermot Co., represented by Stephen Benjamin. On the other hand, the seller is Doral K1 Phase LLC & Doral K2 Phase LLC.
Players
Miami 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93