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3470 East Coast Avenue, Mia...

SOLD

Jonathan Beason Acquires $2.8M Residential Condo In Miami From Seller Seth Cohen

3470 East Coast Avenue, Miami, FL, USA & 3470 East Coast Avenue, Miami, FL, USA

$2,800,000

$392/SF

Building Size

7,126 SF

Asset Type

Closing

Aug 10, 2020

AI

The property involved in this transaction is a residential condo located at 3470 E Coast Ave - PH in the Miami market. It sold for $2,800,000, encompassing a total area of 3,988 square feet, resulting in a price per square foot of $702.

Summary of transaction details:

  • Property Type: Residential Condo
  • Transaction Amount: $2,800,000
  • Address: 3470 E Coast Ave - PH
  • Market: Miami
  • Square Footage: 3,988
  • Price per Square Foot: $702
  • Seller: Seth Cohen
  • Buyer: Jonathan Beason
  • Broker Representatives: Lourdes Alatriste, Alatriste Group

Jonathan Beason is the buyer in this transaction, while the seller is Seth Cohen. The deal was facilitated by brokers Lourdes Alatriste and her agency, Alatriste Group, who represented the property during the sale process.

Players

Lourdes Alatriste

Douglas Elliman

Broker

$535.9M

vol

38 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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93