Michael Kaminsky Acquires Condo On Biscayne Boulevard, Miami From Lorraine Letendre
1040 Biscayne Blvd APT 4203 Miami, FL 33132, USA
$3,400,000
$850/SF
Building Size
4,000 SF
Asset Type
Condo
Closing
Aug 28, 2023
About this deal
AI
A condo located at 1040 Biscayne Boulevard in Miami has been sold. The property, spanning 4,000 square feet, was sold for $3,400,000. The asking price for the condo was $3,795,000, indicating a negotiated sale price below the initial listing price. This translates to a price per square foot of $850.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $3,400,000
- Address: 1040 Biscayne Boulevard, Miami
- Square Footage: 4,000
- Asking Price: $3,795,000
- Price per Square Foot: $850
The buyer of the condo is Michael Kaminsky, while the seller is Lorraine Letendre. Representing the buyer is Jordan Amato from One Sotheby's International, and representing the seller is Jill Hertzberg from Coldwell Banker. Both brokers played key roles in facilitating the transaction, ensuring a successful sale of the property.
Players
Market Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $850 per square foot on a published $3.4M for 4,000 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93