Intrinsic Edge Capital Management Acquires Miami Beach Condo For $6.1M
6800 Fisher Island Dr, Miami Beach, FL, USA
$6,100,000
$1,685/SF
Building Size
3,620 SF
Asset Type
—
Closing
Apr 18, 2021
About this deal
AI
A condo located at 6800 Fisher Island Dr Unit 6832 in Miami Beach has been sold for $6,100,000. The property spans 3,620 square feet and has a price per square foot of $1,685. The sale was facilitated by Dora Puig of Luxe Living Realty, who represented the seller, PDS Development LLC. The buyer, Mark D. Coe from Intrinsic Edge Capital Management, was represented by Don Pingaro of Ocean Insiders.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,100,000
- Address: 6800 Fisher Island Dr Unit 6832
- Market: Miami Beach
- Buyer: Mark D. Coe - Intrinsic Edge Capital Management
- Seller: PDS Development LLC
- Buyer's Representative: Don Pingaro - Ocean Insiders
- Seller's Representative: Dora Puig - Luxe Living Realty
- Size: 3,620 square feet
- Price per Square Foot: $1,685
In this transaction, Mark D. Coe, representing Intrinsic Edge Capital Management, purchased the condo from PDS Development LLC. Don Pingaro of Ocean Insiders acted as the buyer's representative, while Dora Puig of Luxe Living Realty represented the seller. This deal highlights the successful collaboration between these individuals and companies in the Miami Beach market.
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93