Will Murray Acquires Edgewater Condo On NE 31st St For $3.4M
480 Northeast 31st Street, Miami, Florida 33137, United States
$3,375,000
$1,598/SF
Building Size
2,112 SF
Asset Type
—
Closing
Mar 28, 2022
About this deal
AI
An Edgewater condo located at 480 NE 31st St has been sold for a price of $3,375,000. The property, with a total square footage of 2,112, was purchased by Will Murray from seller Jean Luc El Houeiss. The transaction took place on March 29, 2022. The selling agent for this deal was Nathan Kakon from Charles Rutenberg Realty.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $3,375,000
- Square Footage: 2,112
- Price per Square Foot: $1,598
- Market: Edgewater
- Buyer: Will Murray
- Seller: Jean Luc El Houeiss
- Broker: Nathan Kakon - Charles Rutenberg Realty
Nathan Kakon of Charles Rutenberg Realty represented the seller, Jean Luc El Houeiss, in this transaction. The property is situated in the desirable neighborhood of Edgewater, offering a spacious living space of 2,112 square feet. With a purchase price of $3,375,000 and a price per square foot of $1,598, this condo provides a great investment opportunity in the Edgewater market.
Miami CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Deal FAQ
About $1.6K per square foot on a published $3.4M for 2,112 square feet (2022).
Visit Nathan Kakon to view all their deals.
Browse Florida sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.70%
Cash-on-Cash
-1.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93