Sebastian Raatz Purchases Condo On Biscayne Blvd. In Downtown Miami For $1.3M
1040 Biscayne Boulevard
$1,300,000
$751/SF
Building Size
1,730 SF
Asset Type
Condo
Closing
Aug 23, 2021
AI
A condo located at 1040 Biscayne Blvd. in Downtown Miami has been sold in a recent transaction. The property, with a total area of 1,730 square feet, was purchased by Sebastian Raatz from the seller Sonia Perez. The sale was facilitated by Dan Hechtkopf from Douglas Elliman Real Estate, who represented the buyer, and Darin J. Feldman from Insignia International Properties, who represented the seller.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,300,000
- Asking Price: $1,400,000
- Square Footage: 1,730
This transaction highlights the successful collaboration between Sebastian Raatz as the buyer and Sonia Perez as the seller. Dan Hechtkopf from Douglas Elliman Real Estate played the role of the buyer's representative, ensuring a smooth negotiation process. On the other hand, Darin J. Feldman from Insignia International Properties represented the seller, providing expert guidance throughout the sale. The sale price of $1,300,000 reflects the value of the property, which amounts to $751 per square foot.
Players
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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93