Virginia Matas Sells Condo Unit At 1402 Brickell Bay Drive In Brickell For $3.55M
SOLD
$3,550,000
Florida
See Similar Deals7,700 SF
Sold 04/29/2022
SOLD
Virginia Matas Sells Condo Unit At 1402 Brickell Bay Drive In Brickell For $3.55M
1402 Brickell Bay Drive, Miami, Florida 33131, United States
See Similar Deals7,700 SF
Sold 04/29/2022
Summary
FLORIDA
Price Per Square Foot:$461
Total Square Footage:7,700 SF
Transaction Type:Sale
Located at 1402 Brickell Bay Drive in the Brickell neighborhood, this condo was recently sold in a closed property transaction. The transaction took place on April 29, 2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $3,550,000
- Address: 1402 Brickell Bay Drive
- Market: Brickell
Virginia Matas was the seller of this condo unit. Representing the seller's interests, Francisco Rodriguez Melo and Alex Acker, from Cedano Realty Advisors, facilitated the transaction as brokers.
The condo spans across 7,700 square feet with a price per square foot of $461. This property was originally developed by Armonia Corp in 1994. The transaction involved the last four remaining sponsor units, which were represented by Alex Acker and Francisco Rodriguez Melo on behalf of the developer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$189,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,612.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,828.81
Annual Debt Service$201,945.73
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