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18555 Collins Avenue, Sunny...

Walter & Melanie Strankman Acquire Sunny Isles Beach Condo For $5.75M
SOLD

Walter & Melanie Strankman Acquire Sunny Isles Beach Condo For $5.75M

18555 Collins Avenue, Sunny Isles Beach, Florida 33160, United States

$5,750,000

$1,274/SF

Building Size

4,513 SF

Asset Type

Closing

Dec 1, 2021

AI

A car lover's dream home in the sky located at 18555 Collins Ave Apt 1601 in Sunny Isles Beach has been sold for $5,750,000. The luxurious condo spans 3,415 square feet with a price per square foot of $1,684. This one-of-a-kind apartment features 3 bedrooms, 4.5 baths, and a total of 4,749 square feet, including a 2 car garage and a massive balcony. The unit was fully furnished and finished by renowned designer Hernan Arriaga, making it truly unique. The building is situated in one of the most exclusive areas of Miami and offers full-service amenities, including oceanfront luxury and stunning beaches.

Summary of transaction details:

The transaction for this extraordinary condo was facilitated by buyer's representative Scott Shuffield from Berkshire Hathaway HomeServices EWM Realty and seller's representative Melissa Barragan from Dezer Platinum Realty. They played a vital role in successfully closing the deal between Walter & Melanie Strankman and Gil Dezer. The property offers unique amenities for car enthusiasts, including an automatic car elevator and 2 car displays in the living room. Additionally, the balcony features a jacuzzi, adding an element of luxury to the unit. The developer model unit was meticulously designed and furnished by renowned designer Hernan Arriaga, further enhancing its appeal.

Players

Dina Goldentayer

Douglas Elliman

Broker

$1.6B

vol

92 deals

Broker
Gil Dezer

Gil Dezer

Seller

$932.8M

vol

8 deals

Seller

Sunny Isles Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.76%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93