JR & Loren Ridinger Acquire Downtown Miami Condo For $18.5M
1000 Biscayne Boulevard
$18,500,000
$1,789/SF
Building Size
10,338 SF
Asset Type
Condo
Closing
Dec 3, 2021
AI
A penthouse condo located at 1000 Biscayne Blvd PH 5101 in Downtown Miami has been sold in a recent transaction. The property, spanning 10,338 square feet, was sold for $18,500,000. The sale price equates to a price per square foot of $1,790. The transaction took place on December 3, 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $18,500,000
The buyer of the property is JR & Loren Ridinger, while the sellers are Todd Michael Glaser and Louis Birdman. The sale was facilitated by Seth Semilof from HL Real Estate Group and Anna Sherill from ONE Sotheby's International Realty. The condo, located in the heart of Downtown Miami, offers luxurious living space and stunning views.
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Miami 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93