Charles P. Allem Acquires Downtown Miami Condo From Christopher Zakin
1040 Biscayne Boulevard, Miami, FL 33132
$1,000,000
$578/SF
Building Size
1,730 SF
Asset Type
—
Closing
May 28, 2020
AI
An 1,730 square-foot condo located at 1040 Biscayne Blvd in Downtown, Miami has been sold for $1,000,000. The property was listed for an asking price of $1,150,000, resulting in a price per square foot of $578. The sale took place on May 28, 2021, and the transaction involved the buyer Charles P. Allem and the seller Christopher Zakin.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,000,000
- Date: 05/28/2021
- Address: 1040 Biscayne Blvd, Downtown, Miami
- Square Footage: 1,730
- Price Per Square Foot: $578
The buyer, Charles P. Allem, acquired the property, while Christopher Zakin acted as the seller. For the buyer, the representative in the deal was Darin J. Feldman from Insignia International Realty, and for the seller, the representative was Adam Prince from All Prime Realty.
Players
Miami 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93