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450 Alton Road, Miami Beach...

Faheem Sandhu Acquires Miami Beach Condo For $1.9M
SOLD

Faheem Sandhu Acquires Miami Beach Condo For $1.9M

450 Alton Road, Miami Beach, FL 33139

$1,900,000

$1,085/SF

Building Size

1,750 SF

Asset Type

Closing

Jan 19, 2022

AI

Ivan Chorney and Selen Arditi of Compass brokered the sale of a condo unit located at 450 Alton Road, Unit 2505 in Miami Beach. The transaction took place on January 19, 2022. The property, spanning 1,750 square feet, was sold for $1,900,000, resulting in a price per square foot of $1,086. The buyer of the condo unit was Faheem Sandhu, while the seller was Steven Jacobs.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $1,900,000
  • Date: January 19, 2022
  • Address: 450 Alton Road, Unit 2505
  • Market: Miami Beach

Ivan Chorney and Selen Arditi of Compass represented the buyer, Faheem Sandhu, in this sale transaction.

Players

Ivan Chorney

Compass

Broker

$337M

vol

27 deals

Broker

Miami Beach 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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93