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:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Units: 10
- Square Footage: 5,844
- Price Per Unit: $200,000
- Price Per Square Foot: $342
- Buyer: Muhammad Mussadiq
- Seller: Alejandro Gershanik
- Buyer's Representative: Luna Graciana - Fausto Commercial Realty Consultants
- Seller's Representative: Alejandro Gershanik - BM2 Realty
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
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