Melo Group Sells 12 Single Story Penthouses In Miami For $40M
708 Northeast 24th Street, Miami, FL 33137, USA
$40,000,000
$183/SF
Building Size
217,800 SF
Asset Type
Other
Closing
Sep 30, 2021
About this deal
AI
Martin and Carlos Melo have sold a property located at 708 NE 24th St in Miami. The property consists of 12 single-story penthouses and spans across 5 acres. The sale took place on September 30, 2021, with a transaction value of $40,000,000.
Summary of transaction details
- Property Type: 12 Single Story Penthouses
- Transaction Amount: $40,000,000
- Address: 708 NE 24th St, Miami
- Seller: Melo Group
Martin and Carlos Melo were the sellers of this property. The sale was a significant transaction in Miami's real estate market. The property, consisting of 12 single-story penthouses on a 5-acre plot, was acquired for a considerable amount. The Melo Group represented themselves in this deal as the sellers' representatives.
Players
Miami Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida other sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93