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1300 Monad Terrace, Miami B...

Monad Terrace Condo In Miami Beach Sold For $3.16M From Seller Monad Terrace - Michael Stern
SOLDCondo

Monad Terrace Condo In Miami Beach Sold For $3.16M From Seller Monad Terrace - Michael Stern

1300 Monad Terrace, Miami Beach, FL 33139

$3,162,000

$1,385/SF

Building Size

2,282 SF

Asset Type

Condo

Closing

Oct 22, 2021

AI

The property involved in this transaction is a condo located at 1300 Monad Terrace Unit 9E in Miami Beach. The condo spans 2,282 square feet and was sold for a sale price of $3,162,000. The asking price for the condo was $3,224,000, resulting in a price per square foot of $1,386.

Summary of transaction details

The seller of the condo is Monad Terrace, represented by Michael Stern. The brokers involved in the deal are Scott Klein from Insignia International Properties and Ann Nortman from Douglas Elliman.

Players

Scott Klein

Insignia International Properties

Broker

$41.5M

vol

10 deals

Broker
Michael Stern

Michael Stern

Monad Terrace

Seller

$1.8B

vol

18 deals

Seller

Miami Beach 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

5.02%

Cash-on-Cash

-1.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93