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8701 Collins Avenue, Miami ...

Pierre Pomerleau Acquires Condo At 8701 Collins Avenue, Miami Beach For $8M
SOLD

Pierre Pomerleau Acquires Condo At 8701 Collins Avenue, Miami Beach For $8M

8701 Collins Avenue, Miami Beach, FL, USA

$8,000,000

$3,608/SF

Building Size

2,217 SF

Asset Type

Closing

Jan 7, 2021

AI

A condo located at 8701 Collins Avenue in Miami Beach has been sold in a recent transaction. The property, measuring 3,460 square feet, was sold for a price of $8,000,000, resulting in a price per square foot of $2,312. The transaction took place on January 8, 2021. The buyer of the condo is Pierre Pomerleau, representing Pomerleau Inc., while the seller is 2020 87 Park LLC.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $8,000,000
  • Square Footage: 3,460
  • Price per Square Foot: $2,312
  • Address: 8701 Collins Avenue, Miami Beach

Representing the buyer is Michael Martirena from Compass, while Mick Duchon from Douglas Elliman represents the seller. These individuals played crucial roles in facilitating the transaction.

Players

Michael Duchon

The Corcoran Group

Broker

$678.7M

vol

37 deals

Broker

Miami Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93