Albert Ali Acquires Multifamily Property In Miami Beach For $3.6M

The multifamily property located at 8260 Byron Avenue in Miami Beach has been sold. The transaction took place on July 13, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,600,000
• Address: 8260 Byron Avenue, Miami Beach
• Market: Miami Beach

The buyer of the property is Albert Ali, while the seller is AJP Ventures. The deal was facilitated by Garrett Pordes, Calum Weaver, and Perry Synanidis from Cushman & Wakefield.

The property was listed with an asking price of $3,650,000, and it was sold for $3,600,000. The multifamily asset consists of 20 units, with a price per unit (PPU) of $180,000. The total square footage of the property is 10,000, resulting in a price per square foot (PPSF) of $360. The capitalization rate (CAP) for this investment stands at 4.7%.