Adam Redolfi & Mehdi Mejjati Of Barnes International Realty Sell Miami Beach Condo For $4.1M
SOLD
$4,100,000
Florida
See Similar Deals6,337 SF
Sold 11/13/2020
SOLD
Adam Redolfi & Mehdi Mejjati Of Barnes International Realty Sell Miami Beach Condo For $4.1M
6365 Collins Ave, Miami Beach, FL, USA
See Similar Deals6,337 SF
Sold 11/13/2020
Summary
FLORIDA
Price Per Square Foot:$647
Total Square Footage:6,337 SF
Transaction Type:Sale
The property involved in this transaction is a condo located at 6365 Collins Ave PH1 in Miami Beach. The sale was handled by Adam Redolfi, Managing Director, and Mehdi Mejjati, a Real Estate Consultant at Barnes International Realty. The transaction took place on 11/13/2020.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,100,000
- Indoor Square Footage: 3,337 sqft
- Price per Square Foot: $1,228
- Outdoor Square Footage: 3,000 sqft
- Market: Miami Beach
This record-breaking sale at the Akoya condo exceeded the highest sale per square foot ever recorded in the building by 40%. Adam Redolfi, as the Managing Director, and Mehdi Mejjati, as a Real Estate Consultant at Barnes International Realty, played a significant role in this achievement.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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