Charles P. Allem Acquires Downtown Miami Condo From Christopher Zakin
SOLD
$1,000,000
Florida
See Similar Deals1,730 SF
Sold 05/28/2020
SOLD
Charles P. Allem Acquires Downtown Miami Condo From Christopher Zakin
1040 Biscayne Boulevard, Miami, FL 33132
See Similar Deals1,730 SF
Sold 05/28/2020
Summary
FLORIDA
Price Per Square Foot:$578
Total Square Footage:1,730 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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