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:
- Property Type: MultiFamily
- Transaction Amount: $2,546,000.00
- Address: 850-860 Meridian Ave
- Market: Miami Beach
- Square Footage: 15,378
- Buyer: Miguel Cardoso
- Seller: Connie Freydell
- Broker Representatives: Arthur Porosoff, David Cohen (Horvath & Tremblay)
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
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