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850-860 Meridian Ave

Miguel Cardoso Purchases MultiFamily Property At 850-860 Meridian Ave For $2,546,000
SOLDMultiFamily

Miguel Cardoso Purchases MultiFamily Property At 850-860 Meridian Ave For $2,546,000

850-860 Meridian Ave

$2,546,000

$165/SF

Building Size

15,378 SF

Asset Type

MultiFamily

Closing

Mar 31, 2021

AI

The property involved in this transaction is a MultiFamily asset located at 850-860 Meridian Ave in Miami Beach. The asset spans a total of 15,378 square feet and was sold for a price of $2,546,000.00.

Summary of transaction details:

In this deal, Miguel Cardoso is the buyer while Connie Freydell serves as the seller. The transaction was facilitated by broker representatives Arthur Porosoff and David Cohen, both associated with Horvath & Tremblay, who played a crucial role in the agreement.

Players

David Cohen

Horvath & Tremblay

Broker

$67.3M

vol

10 deals

Broker

Miguel Cardoso

Buyer
Buyer

Connie Freydell

Seller

$1.4M

vol

1 deal

Seller

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

6.23%

Cash-on-Cash

-1.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93