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10350 West Bay Harbor Drive...

Citadel Realty Acquires Condo In Bay Harbor Islands For $1.15M
SOLD

Citadel Realty Acquires Condo In Bay Harbor Islands For $1.15M

10350 West Bay Harbor Drive, Bay Harbor Islands, Florida 33154, United States

$1,150,000

$487/SF

Building Size

2,360 SF

Asset Type

Closing

Jun 26, 2022

AI

The Island Pointe Condominium in Bay Harbor Islands has set a new record with its highest sale price and price per square foot to date. The property, located at 10350 W Bay Harbor Dr, was sold for $1,150,000. The condo spans 2,360 square feet, resulting in a price per square foot of $487.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $1,150,000
  • Address: 10350 W Bay Harbor Dr, Bay Harbor Islands
  • Buyer's Rep: Richard Sragowicz - Citadel Realty
  • Seller's Rep: Eric Broad - M. Kotler Realty

This significant sale was facilitated by Richard Sragowicz from Citadel Realty, representing the buyer, and Eric Broad from M. Kotler Realty, representing the seller. The transaction marks an impressive achievement for the Island Pointe Condominium, reaffirming its desirability and premium value in the market.

It's worth noting that this sale not only achieved the highest sale price for a property in the Island Pointe Condominium but also set a new record for the highest price per square foot. This accomplishment showcases the allure and quality of this prestigious development.

Players

Eric Broad

The Corcoran Group

Broker

$24.7M

vol

9 deals

Broker

Bay Harbor Islands CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93