SOLD
Edgar Chow Acquires Condo In Edgewater, Miami For $2.3M
700 NE 24th St, Edgewater, Miami
$2,300,000
$890/SF
Building Size
2,584 SF
Asset Type
—
Closing
Mar 23, 2022
About this deal
AI
A 2,584 square foot condo located at 700 NE 24th St in Edgewater, Miami has been sold for $2,300,000. The condo is situated in the vibrant Edgewater market, known for its desirable waterfront location and proximity to downtown Miami. The sale price translates to a price per square foot of $890, reflecting the value of this property.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,300,000
- Square Footage: 2,584
- Address: 700 NE 24th St
- Market: Edgewater, Miami
The buyer of the condo is Edgar Chow, represented by Cesar Alvarez from The Agency. The seller is The Melo Group, with Giovanni Caloretti from The Melo Group acting as their representative in the transaction.
Players
Miami CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $890 per square foot on a published $2.3M for 2,584 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93