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1040 Biscayne Boulevard, Mi...

Charles P. Allem Acquires Downtown Miami Condo From Christopher Zakin
SOLD

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

Darin Feldman

Broker

$125M

vol

12 deals

Broker

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