Inder Sigal Acquires Condo At Icon Brickell, Miami For $1.5M
495 Brickell Avenue, Miami, Florida 33131, United States
$1,500,000
$802/SF
Building Size
1,870 SF
Asset Type
—
Closing
Dec 17, 2021
About this deal
AI
Icon Brickell at 495 Brickell Ave # 2301 in Miami has been sold. The condo, with a square footage of 1,870, was sold for a price of $1,500,000. The property's asking price was $1,480,000, resulting in a final sale price higher than the original asking price. The price per square foot for this transaction was $802. The sale was finalized on December 17, 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,500,000
- Square Footage: 1,870
- Address: 495 Brickell Ave # 2301, Icon Brickell, Miami
- Market: Miami
- Seller: Carlos Abril
- Seller's Representative: Patricia Montalvan, P.A. - Fortune International Realty
- Buyer: Inder Sigal
The sale of the condo at Icon Brickell involved the buyer, Inder Sigal, and the seller, Carlos Abril. Patricia Montalvan, P.A. from Fortune International Realty represented the seller in this transaction. The sale price of $1,500,000 exceeded the initial asking price, showcasing a successful negotiation process for all parties involved.
On the Map
$1,500,000
$802/SF
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Players
Miami CRE Market Snapshot
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Deal FAQ
About $802 per square foot on a published $1.5M for 1,870 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93