Compass Team Acquires Sunny Isles Beach Condo For $16.6M
SOLD
$16,600,000
Florida
See Similar Deals6,121 SF
Sold 07/20/2020
SOLD
Compass Team Acquires Sunny Isles Beach Condo For $16.6M
18555 Collins Avenue, Sunny Isles Beach, FL, USA
See Similar Deals6,121 SF
Sold 07/20/2020
Summary
FLORIDA
Price Per Square Foot:$2,712
Total Square Footage:6,121 SF
Transaction Type:Sale
A luxury condo located at 18555 Collins Avenue in Sunny Isles Beach was recently sold in a closed transaction. The property offers a spacious living space of 6,121 square feet. The asking price for this condo was set at $16,995,000, and it was sold for a final price of $16,600,000, resulting in a price per square foot of $2,712.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $16,600,000
- Address: 18555 Collins Avenue, Sunny Isles Beach
- Total Square Footage: 6,121
- Asking Price: $16,995,000
- Price per Square Foot: $2,712
The seller's representatives for this transaction were Alex & Joe Team at Compass, while the buyer was represented by Sebastian Tettamanti at Dezer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$885,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,976.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,692.47
Annual Debt Service$944,309.63
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