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3801 Collins Ave.

Naik Family Revocable Trust Acquires Miami Beach Condo For $4.9M
SOLDCo-Op

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

Darin Feldman

Broker

$125M

vol

12 deals

Broker
RT
Revocable TrustBuyer

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