facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

All

/

Sale

/

851 Northeast 1st Avenue

David Weisburd Acquires Downtown Miami Condo For $4.375M With Brokers Seth Semilof & Kamal Hotchadani Of HL Real Estate Group And Ivan Ramirez Of One Sotheby's International Realty
SOLD

David Weisburd Acquires Downtown Miami Condo For $4.375M With Brokers Seth Semilof & Kamal Hotchadani Of HL Real Estate Group And Ivan Ramirez Of One Sotheby's International Realty

851 Northeast 1st Avenue

$4,375,000

$1,071/SF

Building Size

4,083 SF

Asset Type

Closing

Feb 17, 2022

AI

A luxury condominium unit located at 851 NE 1st Ave PH 5201 in Downtown Miami has recently been sold. The condo spans across 4,083 square feet and offers breathtaking views of the city. The property was sold for a price of $4,375,000, resulting in a price per square foot of $1,072.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $4,375,000
  • Address: 851 NE 1st Ave PH 5201, Downtown Miami
  • Market: Downtown Miami

The buyer of this exquisite condo is David Weisburd. Seth Semilof and Kamal Hotchadani from HL Real Estate Group, along with Ivan Ramirez from One Sotheby's International Realty, represented the buyer in this transaction.

It is noteworthy that the property was listed with an asking price of $4,500,000. However, the final sale price negotiated was $4,375,000, demonstrating the buyer's keen negotiation skills. This closed deal highlights the demand for luxury condos in the Downtown Miami market.

Players

Pier Paolo Visconti

Douglas Elliman

Broker

$195.7M

vol

10 deals

Broker
The Agency
The AgencyBrokerage
Kawa Capital Management
Kawa Capital ManagementLender

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

3.63%

Cash-on-Cash

-1.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93