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8955 Collins Avenue

Arte Surfside Condo Leased At $150/ft. With Reid Heidenry & Dean Bloch
LEASEDCondo

Arte Surfside Condo Leased At $150/ft. With Reid Heidenry & Dean Bloch

8955 Collins Avenue

$65,000

$65,000/SF

Building Size

5,189 SF

Asset Type

Condo

Closing

Jun 1, 2021

AI

Located at 8955 Collins Ave in Surfside, this condo unit in the ARTE building was recently leased. The deal was facilitated by brokers Reid Heidenry from Reid Estate and Dean Bloch. The lease agreement was signed on June 1, 2021.

Summary of transation details

  • Property Type: Condo
  • Asking Rent: $150 per square foot
  • Size: 5,189 square feet
  • Deal Value: $65,000 (full ask) for a 2-year lease

This lease transaction showcases the demand for residential properties in Surfside. With a rental rate of $150 per square foot, this condo unit offers a spacious living area of 5,189 square feet. The deal was successfully negotiated by Reid Heidenry from Reid Estate and Dean Bloch. These brokers played a significant role in connecting the tenant and landlord and ensuring a smooth leasing process.

Players

Dean Bloch

Douglas Elliman

Broker

$85.1M

vol

11 deals

Broker

Surfside Condo Market Snapshot

Boundary boundary · Condo · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

244.05%

Cash-on-Cash

-69.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93