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16051 Collins Avenue, Sunny...

Updated Dec 21, 2023

ONE Sotheby's International Realty Sells Condo At 16051 Collins Avenue Lanai, Sunny Isles Beach For $2.795M
SOLD

ONE Sotheby's International Realty Sells Condo At 16051 Collins Avenue Lanai, Sunny Isles Beach For $2.795M

16051 Collins Avenue, Sunny Isles Beach, FL, USA

$2,795,000

$832/SF

Building Size

3,359 SF

Asset Type

Closing

May 20, 2021

About this deal

AI

An oceanfront condo located at 16051 Collins Avenue Lanai in Sunny Isles Beach was recently sold in a closed transaction. The property, a spacious condominium, spans a total area of 3,359 square feet. It boasts an elegant and modern design, offering a comfortable and luxurious living experience. The transaction took place on May 21, 2021, with a final sale price of $2,795,000. The asking price for the condo was $2,995,000, indicating a successful negotiation for the buyer.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $2,795,000
  • Address: 16051 Collins Avenue Lanai, Sunny Isles Beach
  • Square Footage: 3,359

The deal was facilitated by a team of expert brokers from ONE Sotheby's International Realty. Alexandra Peters, Adriana Faerman, and Charles Morganstern represented the buyer and seller in this transaction. Their expertise and knowledge of the real estate market ensured a smooth and successful deal. Alexandra Peters (@AlexandraRealtorMiami), Adriana Faerman (@Adriana_Faerman), and Charles Morganstern (@CharleseMorganstern) are well-known professionals in the industry, committed to providing exceptional service to their clients.

Players

Alexandra Peters

Sotheby's International Realty

Broker

$2.8M

vol

1 deal

Broker

Sunny Isles Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Deal FAQ

About $832 per square foot on a published $2.8M for 3,359 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.68%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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