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Link Real Estate Sells Multifamily Property In Bay Harbor Islands For $12.6M

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SOLD
$12,600,000

Florida

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MultiFamily
Sold 08/22/2023
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Property Image
SOLD

Link Real Estate Sells Multifamily Property In Bay Harbor Islands For $12.6M

9350 Bay Harbor Terrace

See Similar Deals
MultiFamily
Sold 08/22/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 9350 Bay Harbor Terrace in Bay Harbor Islands has recently been sold for a price of $12,600,000. The transaction took place on August 22, 2023. The property, owned by Link Real Estate and represented by Dan Arev, was listed and sold through the brokerage firm Biscayne Advisors, with Yishai Sinai acting as the broker.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,600,000
  • Address: 9350 Bay Harbor Terrace, Bay Harbor Islands
  • Market: Bay Harbor Islands

The sale of this multifamily property represents a significant closed transaction in the Bay Harbor Islands market. It showcases the strong demand for multifamily properties in this area and highlights the success of the brokerage firm Biscayne Advisors in facilitating this deal. The involvement of Yishai Sinai as the broker further emphasizes the expertise and reputation of Biscayne Advisors in the local real estate market.

Players

Yishai Sinai
16 deals$93.5M volume(305) 707-1646
BROKER

Details

SOLD
IMAGE: Yishai Sinai DATE: 08/22/2023 ADDRESS: 9350 Bay Harbor Terrace MARKET: Bay Harbor Islands ASSET TYPE: Multifamily SELLER: Link Real Estate - Dan Arev BROKER: Yishai Sinai - Biscayne Advisors (@BiscayneAdvisors) SALE PRICE: $12,600,000

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$672,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
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