Jordan B Broome Trust Acquires Condo Unit In Coconut Grove From Tim Michels For $2.8M
2669 South Bayshore Drive, Miami, Florida 33133, United States
$2,800,000
$1,530/SF
Building Size
1,829 SF
Asset Type
—
Closing
Nov 19, 2021
About this deal
AI
The property involved in this transaction is a condo located at 2669 S Bayshore Dr. Unit 1602N in Coconut Grove. It was sold on November 19, 2021. The asset consists of a total area of 1,829 square feet. The buyer of this property is Jordan B Broome, Trustee of The Jorgan B Broome Trust. The seller is Tim Michels.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $2,800,000
- Market: Coconut Grove
David Adam Kurz, from The Kurz Team, represented the seller in this deal. David can be contacted at [email protected].
For more record deals in Miami, Orlando, Tampa, and Northern Virginia, you can visit TheKurzTeam.com.
Players
Miami 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93