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4701 Meridian Ave, Miami Be...

The Ritz Carlton Residences Sells Condo In Miami Beach For $5.15M With Brokers Judith Hofman & Darin Tansey
SOLD

The Ritz Carlton Residences Sells Condo In Miami Beach For $5.15M With Brokers Judith Hofman & Darin Tansey

4701 Meridian Ave, Miami Beach, FL, USA

$5,150,000

$1,256/SF

Building Size

4,100 SF

Asset Type

Closing

Sep 20, 2021

AI

The Ritz Carlton Residences sold a 4,100 square foot condo located at 4701 Meridian Ave, Apt 501 in Miami Beach. The property was sold on September 20, 2021, for a sale price of $5,150,000. The asking price for the condo was $5,600,000, resulting in a price per square foot of $1,256.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $5,150,000
  • Address: 4701 Meridian Ave, Apt 501, Miami Beach
  • Market: Miami Beach
  • Asset Type: Condo

Judith Hofman and Darin Tansey from Douglas Elliman represented the seller, The Ritz Carlton Residences, in this sale transaction.

Players

Darin Tansey

Douglas Elliman

Broker

$68.2M

vol

8 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

3.08%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93