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David Siddons Of Douglas Elliman Acquires Sunny Isles Beach Condo For $6.3M

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SOLD
$6,300,000
David Siddons
Philip Scheinfeld

Florida

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3,200 SF
Sold 11/10/2021
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Property Image
SOLD

David Siddons Of Douglas Elliman Acquires Sunny Isles Beach Condo For $6.3M

15701 Collins Ave, Sunny Isles Beach, FL, USA

See Similar Deals
3,200 SF
Sold 11/10/2021
David Siddons
Philip Scheinfeld
the dealplayerscompscontact
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Summary

FLORIDA
Price Per Square Foot:$1,968
Total Square Footage:3,200 SF
Transaction Type:Sale

A luxury condo located at 15701 Collins Ave Unit 2505 in Sunny Isles Beach has been sold for $6,300,000. The property spans 3,200 square feet, resulting in a price per square foot of $1,969. This transaction took place on November 10, 2021.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $6,300,000
  • Address: 15701 Collins Ave Unit 2505
  • Market: Sunny Isles Beach

Representing the buyer in this deal was David Siddons from Douglas Elliman. On the other side, Philip Scheinfeld from Compass acted as the seller's representative. Additionally, Frank Estevez served as the seller's counsel for this transaction.

Players

Philip Scheinfeld
Compass
Philip Scheinfeld
25 deals$206.4M volume
BROKER
David Siddons
Douglas Elliman
David Siddons
12 deals$122.3M volume
BROKER

Details

SOLD
IMAGE: Philip Scheinfeld & David Siddons DATE: 11/10/2021 ADDRESS: 15701 Collins Ave Unit 2505 MARKET: Sunny Isles Beach ASSET TYPE: Condo BUYER'S REP: David Siddons - Douglas Elliman SELLER'S REP: Philip Scheinfeld (@PhilipScheinfeld) (@PhilipScheinfeldTeam) - Compass (@CompassFl) SELLER'S COUNSEL: Frank Estevez (@FrankJEstevez) ASKING PRICE: $6,500,000 SALE PRICE: $6,300,000 SF: 3,200 ~ PPSF: $1,969

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$336,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57