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3301 NE 1st Ave, Miami, FL,...

Compass Acquires Miami Condo At 3301 NE 1st For $1.7M
SOLD

Compass Acquires Miami Condo At 3301 NE 1st For $1.7M

3301 NE 1st Ave, Miami, FL, USA

$1,700,000

$547/SF

Building Size

3,103 SF

Asset Type

Closing

Apr 14, 2021

AI

A 3,103 square foot condo located at 3301 NE 1st, PH6 in Miami was recently sold. The property was listed with an asking price of $1,850,000 and ultimately sold for $1,700,000. The sale price translates to a price per square foot of $547.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $1,700,000
  • Address: 3301 NE 1st, PH6, Miami
  • Market: Miami

The buyer's representative in the transaction was Philip Scheinfeld of the Philip Scheinfeld Team at Compass, along with Jaime Blatt. Kendrick Clayborne represented the seller.

Players

Philip Scheinfeld

Compass

Broker

$206.4M

vol

25 deals

Broker

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

9.33%

Cash-on-Cash

-2.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93