Amit Raizada Acquires Downtown Miami Condo On 1000 Biscayne Blvd For $6.35M
SOLD
$6,350,000
Florida
See Similar DealsCondo4,600 SF
Sold 04/21/2022
SOLD
Amit Raizada Acquires Downtown Miami Condo On 1000 Biscayne Blvd For $6.35M
1000 Biscayne Boulevard, Miami, Florida 33132, United States
See Similar DealsCondo4,600 SF
Sold 04/21/2022
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,380
Total Square Footage:4,600 SF
Transaction Type:Sale
A luxury condo at 1000 Biscayne Blvd Apt 1601 in Downtown Miami has been sold for $6,350,000. The property spans 4,600 square feet, with a price per square foot of $1,380. The deal was finalized on April 21, 2022, and the transaction was facilitated by Douglas Elliman.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $6,350,000
- Address: 1000 Biscayne Blvd Apt 1601
- Market: Downtown Miami
Amit Raizada is the buyer of the condo, while Thomas and Linda Knox are the sellers. The buyer was represented by Darin Tansey from Douglas Elliman, and Christopher M Wands, also from Douglas Elliman, represented the sellers. This sale showcases the strong demand for luxury properties in the vibrant Downtown Miami market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,560.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,102.24
Annual Debt Service$361,226.88
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