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
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