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Anthony Nucci's Client Acquires Luxury Condo In Downtown Miami For $1.95M

Property Image
SOLD
$1,950,000

Florida

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2 SF
Sold 12/22/2022
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Property Image
SOLD

Anthony Nucci's Client Acquires Luxury Condo In Downtown Miami For $1.95M

851 Northeast 1st Avenue

See Similar Deals
2 SF
Sold 12/22/2022
Contact now

Summary

FLORIDA
Price Per Square Foot:$975,000
Total Square Footage:2 SF
Transaction Type:Sale

Located in Downtown Miami, this luxury condo at 851 NE 1st Avenue was recently sold in an off-market deal. The transaction was facilitated by Anthony Nucci of Douglas Elliman, who represented both the tenant and the investor. With a sale price of $1,950,000, this 2,100 square-foot property offers a prime location and impressive features. The condo stands out in the market with a price per square foot of $929, showcasing its value for discerning buyers.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $1,950,000
  • Address: 851 NE 1st Avenue
  • Market: Downtown Miami
  • Broker: Anthony Nucci - Douglas Elliman
  • Square Footage: 2,100 sq ft
  • Price per Square Foot: $929

This successful deal is a testament to Anthony Nucci's expertise in the luxury market and his ability to navigate off-market transactions. Having represented the tenant and ultimately finding the investor to acquire the property, Nucci's role was instrumental in bringing the deal to fruition. He has demonstrated his prowess in the development, with this being his third deal in the past year. Nucci Real Estate, known for specializing in working with athletes and the luxury market in Miami, Florida, and Detroit, Michigan, has gained the trust of renowned talent agency WME, further cementing their reputation in the industry.

Players

Anthony Nucci
6 deals$17.5M volume(305) 407-0741
BROKER

Details

SOLD
IMAGE: Anthony Nucci DATE: 12/22/2022 ADDRESS: 851 NE 1st Avenue MARKET: Downtown Miami ASSET TYPE: Condo BROKER: Anthony Nucci (@NucciRealEstate) - Douglas Elliman (@DouglasElliman) SALE PRICE: $1,950,000 SF: 2,100 ~ PPSF: $929 NOTE FROM BROKER: Anthony Nucci represented the tenant prior to finding an investor to acquire the luxury condo. Both of the deals were both done off market. This is Anthony's 3rd deal in the development in the past year. Nucci Real Estate specializes in working with athletes and the luxury market here in Miami Florida/Detroit Michigan. This was for a WME client. If the world's largest talent agency trusts Nucci Real Estate you should too. Follow @Nuccirealestate for more!

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

$103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94