Manuel A. Vidal & Anaclaudia Melhado Acquire Miami Condo At 88 SW 7th ST, PH4202 For $2.64M
88 SW 7th St Apt 4202, Miami, FL 33130, USA
$2,640,000
$1,050/SF
Building Size
2,514 SF
Asset Type
—
Closing
Sep 29, 2020
About this deal
AI
An impressive condo property located at 88 SW 7th ST, PH4202 in Miami recently sold in a closed transaction. The property was purchased for a sale price of $2,640,000, which is notably lower than the asking price of $4,025,000. The sale was finalized on September 30, 2020. The seller, BCC West Residential, successfully closed the deal.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $2,640,000
- Address: 88 SW 7th ST, PH4202
- Market: Miami
Representing the buyer in this transaction were Manuel A. Vidal, PA. and Anaclaudia Melhado, who work as part of @TheMiamiLifeTeam. Their expertise and negotiation skills played a crucial role in securing the property at a price lower than its initial asking price.
Players
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Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.01%
Cash-on-Cash
-1.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93