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700 NE 24th St, Edgewater, ...

Edgar Chow Acquires Condo In Edgewater, Miami For $2.3M
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

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

Cesar Alvarez

The Agency

Broker

$2.3M

vol

1 deal

Broker
Melo Group
Melo GroupSeller

Miami CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

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