Naik Family Revocable Trust Acquires Miami Beach Condo For $4.9M
3801 Collins Ave.
$4,855,000
$1,766/SF
Building Size
2,749 SF
Asset Type
Co-Op
Closing
Nov 22, 2022
AI
A condo located at 3801 Collins Ave in Miami Beach has been sold in a recent transaction. The property, spanning 2,749 square feet, was purchased by the Naik Family Revocable Trust. The deal was facilitated by broker Darin Feldman from Insignia International Properties. The property was listed with an asking price of $5,100,000 and sold for $4,855,000, resulting in a price per square foot of $1,766.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $4,855,000
- Address: 3801 Collins Ave
- Market: Miami Beach
The Naik Family Revocable Trust was the buyer in this transaction. Darin Feldman from Insignia International Properties represented the trust as the broker. The deal was closed on the specified date of 11/22/2022.
Players
Miami Beach Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93