Elliot Sohayegh Sells Multifamily Properties In Miami For $31M With Aaron Jungreis & Jonathan Brody Representing
SOLD
$31,000,000
Florida
See Similar DealsMultiFamily
Sold 08/09/2021
SOLD
Elliot Sohayegh Sells Multifamily Properties In Miami For $31M With Aaron Jungreis & Jonathan Brody Representing
625 Carlyle Avenue, Miami Beach, FL, USA
See Similar DealsMultiFamily
Sold 08/09/2021
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
An $31,000,000 multifamily property in Miami has been sold. The property includes the following addresses: 8400, 8221, 8215, 7745 Harding Ave, 335 75th St, 630 77th St, 333, 321 84th St, 525-531 76th St, 7609, 7617 & 625 Carlyle Ave. The transaction involved a total of 141 units, with a price per unit (PPU) of $219,858.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Market: Miami
The seller of the property was Elliot Sohayegh. The brokers involved in the deal were Aaron Jungreis and Jonathan Brody from the agency represented by Jonathan Brody, Ben Lipkin, Elliot Sohayegh & Aaron Jungreis.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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