Newgard Development Group Sells Brickell Condo For $4.7M With Broker Eyal Melamed
98 Southwest 6th Street, Miami, Florida 33135, United States
$4,700,000
$1,205/SF
Building Size
3,900 SF
Asset Type
—
Closing
Oct 10, 2022
AI
A pre-construction condo unit located at 98 SW 6th St in Lofty Brickell in the Brickell, FL market has been sold for a price of $4,700,000. The unit spans 3,900 square feet, resulting in a price per square foot of $1,205. It is identified as unit 5 with a price per unit of $940,000.
Summary of transaction details
- Property Type: Condo (Pre-construction)
- Transaction Amount: $4,700,000
- Address: 98 SW 6th St - Lofty Brickell, Brickell, FL
- Market: Brickell, FL
- Seller: Newgard Development Group
- Broker: Eyal Melamed - Nadlan in Miami - Isram Realty
- Square Footage: 3,900
- Price per Square Foot: $1,205
- Unit: 5
- Price per Unit: $940,000
Eyal Melamed from Nadlan in Miami represented the seller, Newgard Development Group, in this transaction. Nadlan in Miami specializes in both multi-family investments and pre-construction deals. For more information, please reach out to their team.
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
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93