Astolfo Bolivar & Maria Elena Noriega Acquire Sunny Isles Beach Condo For $4.4M
16901 Collins Ave, Sunny Isles Beach, FL, USA
$4,400,000
$1,349/SF
Building Size
3,260 SF
Asset Type
—
Closing
Aug 3, 2020
About this deal
AI
A condo unit located at 16901 Collins Ave Apt 4403 in Sunny Isles Beach has been sold in a recent transaction. The property, spanning 3,260 square feet, was sold for a price of $4,400,000. The asking price for the condo was $4,590,000, indicating a slight discount from the initial listing price. The unit has a price per square foot (PPSF) of $1,349, highlighting its value in the market.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $4,400,000
- Address: 16901 Collins Ave Apt 4403, Sunny Isles Beach
- Market: Sunny Isles Beach
Astolfo Bolivar and Maria Elena Noriega represented the buyer in this transaction, while Matias Alem and Christina West Alem of BRG International LLC acted as the seller's representatives. Their expertise and negotiation skills played a crucial role in facilitating the sale of the condo unit.
Players
Sunny Isles Beach 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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93