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
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