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
About this deal
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.
On the Map
$65,000
$65,000/SF
Condo
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Surfside Condo Market Snapshot
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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