Berkshire Hathaway HomeServices Acquires Coral Gables Condo For $15.65M
739 Almeria Ave, Coral Gables, FL, USA
$15,650,000
$752/SF
Building Size
20,800 SF
Asset Type
—
Closing
Nov 30, 2020
About this deal
AI
The Althea Row development by MG Developer in Coral Gables, FL has achieved remarkable success, with almost all units sold within 90 days of completion. The property consists of four condo units located at 739 Almeria Ave Unit, 737 Almeria Ave Unit, 735 Almeria Ave Unit, and 731 Almeria Ave Unit. The total square footage of this condo complex is approximately 28,000 square feet. The selling price for the entire development is $15,650,000, resulting in a price per square foot of $559.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $15,650,000
- SF: 28,000 (Approx)
- PPSF: $559
- Address: 739 Almeria Ave Unit, 737 Almeria Ave Unit, 735 Almeria Ave Unit, 731 Almeria Ave Unit, Coral Gables, FL
- Seller: MG Developer
- Broker: Berkshire Hathaway HomeServices EWM Realty
Berkshire Hathaway HomeServices EWM Realty played a crucial role as the broker in facilitating this successful sale for MG Developer. Their expertise and dedication to the transaction contributed to the swift sale of the Althea Row units.
Players
Coral Gables CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $752 per square foot on a published $15.7M for 20,800 square feet (2020).
Browse Florida sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93