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1835 Northwest 2nd Court

Muhammad Mussadiq Acquires Multifamily Property In Miami For $2 Million Represented By Luna Graciana
SOLDMultiFamily

Muhammad Mussadiq Acquires Multifamily Property In Miami For $2 Million Represented By Luna Graciana

1835 Northwest 2nd Court

$2,000,000

$342/SF

Building Size

5,844 SF

Asset Type

MultiFamily

Closing

Jan 13, 2025

AI

The property involved in this transaction is a multifamily building located at 1835 Northwest 2nd Court in Miami. The sale transaction closed at a price of $2,000,000, consisting of 10 residential units. The total area of the property is 5,844 square feet, resulting in a price per unit of $200,000 and a price per square foot of $342.

Summary of transaction details:

Key individuals involved in the transaction include the buyer, Muhammad Mussadiq, and the seller, Alejandro Gershanik, who also represented himself in this deal. Luna Graciana from Fausto Commercial Realty Consultants acted as the representative for the buyer, ensuring the buyer's interests were well managed throughout the process. Alejandro Gershanik, besides being the seller, had dual roles as his own representative in the sale.

Players

Alejandro Gershanik

BM2 Realty

Broker

$94.9M

vol

34 deals

Broker

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