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985 Northwest 6th Street

Babba Joshua Yesharim Acquires Multifamily Property In Little Havana For $2M
SOLDMultiFamily

Babba Joshua Yesharim Acquires Multifamily Property In Little Havana For $2M

985 Northwest 6th Street & 613 Northwest 10th Avenue

$2,000,000

$144/SF

Building Size

13,800 SF

Asset Type

MultiFamily

Closing

Jan 2, 2024

AI

A multifamily property located at 985 Northwest 6th Avenue and 613 Northwest 10th Avenue in Little Havana has been sold for a price of $2,000,000. The property consists of 9 units with a total square footage of 6,900. The price per unit is $222,222 and the price per square foot is $290.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,000,000
  • Address: 985 Northwest 6th Avenue and 613 Northwest 10th Avenue
  • Market: Little Havana
  • Units: 9
  • Price per Unit: $222,222
  • Square Footage: 6,900
  • Price per Square Foot: $290

The buyer of the property is Babba Joshua Yesharim, while the sellers are Constantino Cichilli, Stefano Garofoli, and Francisco Rodriguez Melo. The buyer was represented by John Lonardo from NAI Miami, and the seller was represented by Frank Rodriguez Melo from Cedano Realty Advisors.

Players

John Lonardo

NAI Global

Broker

$35.5M

vol

4 deals

Broker
Babba Joshua Yesharim

Babba Joshua Yesharim

Buyer

$107.5M

vol

28 deals

Buyer
B
BrickoneSeller
Stefano Garofoli

Stefano Garofoli

Seller

$34M

vol

9 deals

Seller

Miami 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93