Julian Sanders Purchases $6.3M Penthouse At 88 SW 7th St In Miami
88 Southwest 7th Street, Miami, Florida 33130, United States
$6,300,000
$1,421/SF
Building Size
4,431 SF
Asset Type
—
Closing
May 10, 2022
About this deal
AI
A penthouse unit located at 88 SW 7th St PH 4201 in Miami has recently closed in a sale transaction. The property, spanning an area of 4,431 square feet, was sold at a price of $6,300,000, resulting in an average price per square foot of $1,422. This transaction was facilitated by Lian Oteiza from ISG World, representing the buyer Julian Sanders and assisted by Fortune Development as the seller. The sale of this unique penthouse marks a significant event in Miami's real estate market.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $6,300,000
- Address: 88 SW 7th St PH 4201
- Market: Miami
Lian Oteiza, a representative from the ISG World agency, played a pivotal role in the successful completion of this sale. They can be contacted at 305-562-9308 or via email at liano@isgworld. Rise @ Brickell City Centre, where the penthouse is located, stands out as a notable development in the Miami-Dade area. The achievement of securing this deal further establishes the prominence of both the property and the individuals involved.
Players
Miami 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93