Updated Oct 29, 2024
Mor Sharabani's Miamor Invesment Group Acquires Multifamily Property In Miami Beach For $1.42M
8205 Crespi Boulevard, Miami Beach, FL, USA
$1,420,000
$216/SF
Building Size
6,563 SF
Asset Type
MultiFamily
Closing
Jan 7, 2021
About this deal
AI
Located at 8205 & 8215 Crespi Boulevard in Miami Beach, this multifamily property was recently sold. The sale was facilitated by broker Karin Benyamin, representing the buyer Mor Sharabani from Miamor Invesment Group and the seller Yoni Dahan from Soly Group. The transaction took place on 01/08/2021.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $1,420,000
- Square Footage: 6,563
- Price per Square Foot: $216
- Number of Units: 8
- Price per Unit: $177,500
- Market: Miami Beach
Mor Sharabani, through Miamor Invesment Group, plans to utilize the unused air rights of the property to expand its potential. The plan includes the addition of 10-20 units and boat slips along the canal. Mor is actively seeking value-add multifamily acquisitions in Miami and can be contacted at [email protected] for potential opportunities.
On the Map
$1,420,000
$216/SF
MultiFamily
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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
11.17%
Cash-on-Cash
-3.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93