Updated Oct 28, 2024
David Tenenbaum Acquires Multifamily Property In Bay Harbor Islands For $22.5M
9881 East Bay Harbor Drive, Bay Harbor Islands, Florida 33154, United States
$22,500,000
Units
44
Asset Type
MultiFamily
Closing
Aug 10, 2022
About this deal
AI
The multifamily property located at 9881 E Bay Harbor Dr & 9291 E Bay Harbor Dr in Bay Harbor Islands has been sold in a recent transaction. The sale took place on 08/11/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Units: 44
- Price Per Unit (PPU): $511,364
The buyer of the property is David Tenenbaum, while the seller is Harry Bruder, the trustee of the Genia Bruder Revocable Trust.
With a total of 44 units, this multifamily property offers a lucrative investment opportunity. The sale price of $22,500,000 indicates a price per unit of $511,364, making it an attractive asset in Bay Harbor Islands.
Players
Bay Harbor Islands 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93