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605 Lincoln Rd, Miami Beach...

Nissani Twins Acquire 8,725 SF Condo Units In Miami Beach For $1.95M
SOLD

Nissani Twins Acquire 8,725 SF Condo Units In Miami Beach For $1.95M

605 Lincoln Rd, Miami Beach, FL, USA

$1,950,000

$223/SF

Building Size

8,725 SF

Asset Type

Closing

Sep 10, 2020

AI

Two units at 605 Lincoln Rd. in Miami Beach have been sold in a recent transaction. Unit 800 and Unit 270 were part of this condo sale. The deal closed on 09/11/2020 with a sale price of $1,950,000. The total square footage of the units is 8,725, resulting in a price per square foot of $223.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $1,950,000
  • Square Footage: 8,725
  • Price per Square Foot: $223
  • Address: 605 Lincoln Rd.
  • Market: Miami Beach

The sale was facilitated by brokers Jeff Nissani and Erik Nissani of Nissani Twins Miami Boca. The Nissani Twins, originally from NYC, have recently relocated to South Florida to establish a comprehensive real estate team specializing in residential and commercial transactions from Miami to Boca Raton. For more information, contact Jeff Nissani at 917 776 6650.

It is worth noting that this deal was signed and closed within just one day, reflecting the efficiency and effectiveness of the parties involved in the transaction.

Players

Erik Nissani

Lang Realty

Broker

$7.3M

vol

6 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

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93