Laurent Morali Of Kushner Companies Acquires Multifamily Asset From Wes Powell For $190M
SOLD
$190,000,000
Florida
See Similar DealsMultiFamily378,990 SF
Sold 12/18/2024
SOLD
Laurent Morali Of Kushner Companies Acquires Multifamily Asset From Wes Powell For $190M
555 Northeast 34th Street
See Similar DealsMultiFamily378,990 SF
Sold 12/18/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$501
Total Square Footage:378,990 SF
Transaction Type:Sale
Located at 555 Northeast 34th Street in Miami, this multifamily asset encompasses 276 units with a total square footage of 378,990. The sale was completed for $190,000,000, resulting in a price per unit of $688,405 and a price per square foot of $501.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $190,000,000
- Units: 276
- Square Footage: 378,990
- Price Per Unit: $688,405
- Price Per Square Foot: $501
- Buyer: Laurent Morali - Kushner Companies
- Seller: Wes Powell - Aimco
- Brokers: Still Hunter & Kaya Robert Suarez - Walker & Dunlop
- Transaction Date: 12/18/2024
The transaction was facilitated by brokers Still Hunter and Kaya Robert Suarez from Walker & Dunlop, representing both the buyer and seller in this multifamily property deal, highlighting the collaboration between the involved parties in executing the transaction efficiently.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$675,029.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$900,696.93
Annual Debt Service$10,808,363.20
Is there something missing? Send suggestions