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1040 Biscayne Boulevard

Sebastian Raatz Purchases Condo On Biscayne Blvd. In Downtown Miami For $1.3M
SOLDCondo

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

Darin Feldman

Broker

$125M

vol

12 deals

Broker

Sonia Perez

Seller

$2.6M

vol

2 deals

Seller

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