Torres Properties Acquires North Bay Village Condo For $17M
SOLD
$17,000,000
Florida
See Similar Deals26,797 SF
Sold
SOLD
Torres Properties Acquires North Bay Village Condo For $17M
7939 East Drive, North Bay Village, Florida 33141, United States
See Similar Deals26,797 SF
Sold
Summary
FLORIDA
Price Per Square Foot:$634
Total Square Footage:26,797 SF
Transaction Type:Sale
A condo located at 7939 East Drive in North Bay Village has been sold for $17,000,000. The property consists of 15 units, resulting in a per unit price of $1,133,333.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $17,000,000
- Address: 7939 East Drive, North Bay Village
- Market: North Bay Village
The buyers of the property are Brook & Christian Torres from Torres Properties. On the other hand, Victory Developers LLC, represented by Anil Monga & Rajni Monga, acted as the sellers. The transaction was facilitated by Susan Gale from One Sotheby's International Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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