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18501 Collins Ave, Sunny Is...

Compass And Pordes Residential Facilitate $7.5M Record Off-Market Sale Of Turnberry Ocean Club Condo In Sunny Isles Beach
SOLD

Compass And Pordes Residential Facilitate $7.5M Record Off-Market Sale Of Turnberry Ocean Club Condo In Sunny Isles Beach

18501 Collins Ave, Sunny Isles Beach, FL, USA

$7,500,000

$2,306/SF

Building Size

3,252 SF

Asset Type

Closing

Nov 23, 2021

AI

Located at 18501 Collins Ave in Sunny Isles Beach, this condominium unit was recently sold in an off-market transaction. The property, part of the Turnberry Ocean Club development, offers a total interior space of 3,625 square feet. The sale price for this condo was $7,500,000, resulting in a price per square foot of $2,069. The transaction was handled by Megan Probst from Compass, representing the buyer, and Alina Kavall Seiden from Pordes Residential Sales & Marketing, representing the seller. The deal was completed on November 23, 2021.

Summary of transaction details

  • Property Type: Condo
  • Sale Price: $7,500,000
  • Address: 18501 Collins Ave, Sunny Isles Beach
  • Interior Square Footage: 3,625
  • Price per Square Foot: $2,069
  • Buyer's Representative: Megan Probst - Compass
  • Seller's Representative: Alina Kavall Seiden - Pordes Residential Sales & Marketing
  • Date of Sale: November 23, 2021

This record-breaking sale for Turnberry Ocean Club stands as a testament to the desirability of the property. It is worth noting that the unit was designed and furnished by Artefacto, adding to its appeal and value.

Players

Megan Probst

Compass

Broker

$19.9M

vol

4 deals

Broker

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

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93