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Fred Hochberg & Tom Healy Acquire Condo At 3651 Collins Avenue, Miami Beach For $6M

Property Image
SOLD
$6,000,000
Joseph (Joe) Padula
Alex Miranda
Jill Hertzberg

Florida

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3,783 SF
Sold 05/17/2021
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Property Image
SOLD

Fred Hochberg & Tom Healy Acquire Condo At 3651 Collins Avenue, Miami Beach For $6M

3651 Collins Avenue, Miami Beach, FL, USA

See Similar Deals
3,783 SF
Sold 05/17/2021
Joseph (Joe) Padula
Alex Miranda
Jill Hertzberg
the dealplayerscompscontact
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Summary

FLORIDA
Price Per Square Foot:$1,586
Total Square Footage:3,783 SF
Transaction Type:Sale

The property involved in the transaction is a condo located at 3651 Collins Avenue in Miami Beach. The condo has a total area of 3,783 square feet and was sold for a price of $6,000,000. The price per square foot for this transaction was $1,586.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $6,000,000
  • Address: 3651 Collins Avenue, Miami Beach
  • Square Footage: 3,783
  • Price per Square Foot: $1,586

The buyer in this transaction was Fred Hochberg and Tom Healy. They were represented by Jill Hertzberg from The Jills Zeder Group - Coldwell Banker. The seller was William Weiland, the owner of Presence Marketing/Dynamic Presence, who was represented by Alex Miranda and Joe Padula from Compass.

Players

Jill Hertzberg
Coldwell Banker
Jill Hertzberg
87 deals$2.3B volume
BROKER
Joseph (Joe) Padula
Compass
Joseph Padula
3 deals$37.6M volume
BROKER
Alex Miranda
Compass
Alex Miranda
4 deals$39.3M volume
BROKER

Details

SOLD
IMAGE: Jill Hertzberg, Alex Miranda, Fred Hochberg & Joe Padula DATE: 05/17/2021 ADDRESS: 3651 Collins Avenue MARKET: Miami Beach ASSET TYPE: Condo BUYER: Fred Hochberg & Tom Healy SELLER: William Weiland - Presence Marketing/Dynamic Presence BUYER'S REP: Jill Hertzberg - The Jills Zeder Group - Coldwell Banker SELLER'S REP: Alex Miranda & Joe Padula - Compass SALE PRICE: $6,000,000 SF: 3,783 ~ PPSF: $1,586

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73