Virginia Matas Sells Condo Unit At 1402 Brickell Bay Drive In Brickell For $3.55M
1402 Brickell Bay Drive, Miami, Florida 33131, United States
$3,550,000
$461/SF
Building Size
7,700 SF
Asset Type
—
Closing
Apr 28, 2022
About this deal
AI
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.
Players
Miami CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $461 per square foot on a published $3.6M for 7,700 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93