Eloy Carmenate And Michael Duchon Of The Corcoran Group Represent Buyer In Miami Beach Condo Sale For $10M
1 Collins Avenue
$10,000,000
$2,994/SF
Building Size
3,339 SF
Asset Type
Condo
Closing
Jun 25, 2024
AI
The transaction involved a condo located at 1 Collins Avenue in Miami Beach. The asset was listed with an asking price of $11,900,000 and sold for $10,000,000. The property encompasses 3,339 square feet, with a price per square foot of $2,995.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $10,000,000
- Asking Price: $11,900,000
- Square Footage: 3,339
- Price per Square Foot: $2,995
- Seller: The Miami Foundation Inc
- Buyer's Representative: Eloy Carmenate & Michael Duchon - Carmenate/Duchon at The Corcoran Group
- Seller's Representative: Jill Hertzberg - Coldwell Banker
The deal involved notable representatives from the real estate sector. Eloy Carmenate and Michael Duchon represented the buyer at The Corcoran Group. On the seller's side, Jill Hertzberg represented The Miami Foundation Inc through Coldwell Banker.
Players
Miami Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93