Eloy Carmenate And Michael Duchon Of The Corcoran Group Represent Buyer In Miami Beach Condo Sale For $10M
SOLD
$10,000,000
Florida
See Similar DealsCondo3,339 SF
Sold 06/25/2024
SOLD
Eloy Carmenate And Michael Duchon Of The Corcoran Group Represent Buyer In Miami Beach Condo Sale For $10M
1 Collins Avenue
See Similar DealsCondo3,339 SF
Sold 06/25/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,994
Total Square Footage:3,339 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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