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8205 Crespi Boulevard, Miam...

Mor Sharabani's Miamor Invesment Group Acquires Multifamily Property In Miami Beach For $1.42M
SOLDMultiFamily

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

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.

Players

Karin Benyamin

Broker

$1.4M

vol

1 deal

Broker

Mor Sharabani

Buyer

$2.3M

vol

2 deals

Buyer

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