Reese Cenelli Acquires Cipriani Residences Condo In Miami For $6.7M
1420 S Miami Ave Miami, FL 33130, USA
$6,700,000
$1,864/SF
Building Size
3,594 SF
Asset Type
Condo
Closing
Aug 18, 2023
About this deal
AI
A condominium unit located at 1420 South Miami Avenue in Miami has recently been sold. The property, spanning 3,594 square feet, was sold for a total price of $6,700,000. The sale price per square foot for this transaction was $1,864. The seller of the condo was Cipriani Residences, while the buyer was Reese Cenelli. The deal was facilitated by Jacqueline Pirkle of Sotheby's International Realty, acting as the broker for both parties involved.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,700,000
- Address: 1420 South Miami Avenue, Miami
- Square Footage: 3,594
- Price Per Square Foot: $1,864
- Seller: Cipriani Residences
- Buyer: Reese Cenelli
- Broker: Jacqueline Pirkle - Sotheby's International Realty
This transaction showcases the involvement of Jacqueline Pirkle from Sotheby's International Realty as the broker representing both the buyer and the seller. The deal presents an opportunity for Reese Cenelli to acquire a desirable condominium unit in Miami's market, while Cipriani Residences successfully sold their property through this transaction.
On the Map
$6,700,000
$1,864/SF
Condo
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Market Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $1.9K per square foot on a published $6.7M for 3,594 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93