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
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