Naik Family Revocable Trust Acquires Miami Beach Condo For $4.9M
SOLD
$4,855,000
Florida
See Similar DealsCo-Op2,749 SF
Sold 11/22/2022
SOLD
Naik Family Revocable Trust Acquires Miami Beach Condo For $4.9M
3801 Collins Ave.
See Similar DealsCo-Op2,749 SF
Sold 11/22/2022
Summary
FLORIDA
Asset Type:Co-Op
Price Per Square Foot:$1,766
Total Square Footage:2,749 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$258,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,248.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,015.18
Annual Debt Service$276,182.12
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