Updated Aug 28, 2026
Monterey Pointe FL Owner LP Acquires Multifamily Asset From Stephen A. Schwarzman For $80.81M
1400 East Mowry Drive
$80,810,470
Building Size
—
Asset Type
MultiFamily
Closing
Aug 1, 2026
About this deal
AI
The transaction involves the sale of a multifamily asset located at 1400 East Mowry Drive in Homestead. The property was sold for $80,810,470, marking a significant institutional residential transfer in the South Florida market. This asset was previously acquired in December 2021 for $46,396,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $80,810,470
- Buyer: Monterey Pointe FL Owner LP
- Seller: Stephen A. Schwarzman - Blackstone
- Date of Sale: August 1, 2026
This deal highlights the involvement of Stephen A. Schwarzman, a prominent figure in the investment community, representing Blackstone in the transaction. The buyer, Monterey Pointe FL Owner LP, is acquiring this significant asset, contributing to the ongoing activity in the South Florida real estate market.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93