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Elysee Miami Condo In Edgewater, Miami Sells For $6.8M

Property Image
SOLD
$6,825,000

Florida

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7,958 SF
Sold 07/20/2020
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Property Image
SOLD

Elysee Miami Condo In Edgewater, Miami Sells For $6.8M

788 Northeast 23rd Street, Miami, FL 33137

See Similar Deals
7,958 SF
Sold 07/20/2020
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Summary

FLORIDA
Price Per Square Foot:$857
Total Square Footage:7,958 SF
Transaction Type:Sale

A luxury condo unit in Edgewater, Miami has been sold for $6,825,000. Located at 788 NE 23rd Street, also known as Elysee Miami, Unit 5001, this spacious property offers a total square footage of 7,958. The impressive price per square foot for this transaction was $858. The sale was facilitated by the esteemed broker Zachary Belil from Douglas Elliman, representing the buyer. The seller and developer of the property was Two Roads Development.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $6,825,000
  • Address: 788 NE 23rd Street AKA Elysee Miami (Unit 5001)
  • Market: Edgewater, Miami
  • Square Footage: 7,958
  • Price Per Square Foot: $858

Zachary Belil, a broker from Douglas Elliman, played a crucial role in this successful sale. His expertise and representation ensured a smooth transaction process for the buyer. The collaboration between the buyer's representative and Two Roads Development, the seller and developer, resulted in the successful sale of this luxurious condo unit.

Players

Zachary Belil
4 deals$23M volume
BROKER

Details

SOLD
IMAGE: Zachary Belil DATE: 07/20/2021 ADDRESS: 788 NE 23rd Street AKA Elysee Miami (Unit 5001) MARKET: Edgewater, Miami ASSET TYPE: Condo BROKER: Zachary Belil - Douglas Elliman SELLER/DEVELOPER: Two Roads Development SALE PRICE: $6,825,000 SF: 7,958 ~ PPSF: $858

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$364,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,247.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,353.98
Annual Debt Service$388,247.78