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16485 Collins Avenue

Claudia Ramirez & Wendy Paskow Facilitate $1.3M Sale Of Sunny Isles Beach Condo
SOLDCondo

Claudia Ramirez & Wendy Paskow Facilitate $1.3M Sale Of Sunny Isles Beach Condo

16485 Collins Avenue

$1,300,000

$643/SF

Building Size

2,020 SF

Asset Type

Condo

Closing

Apr 19, 2024

AI

The condominium located at 16485 Collins Avenue in Sunny Isles Beach was sold for $1,300,000. Spanning 2,020 square feet, the property boasts a direct ocean view, a wrap-around balcony, and access to exclusive club amenities.

Summary of transaction details:

Wendy Paskow and Claudia Ramirez from Sotheby's International Realty successfully closed the deal for the condominium in Sunny Isles Beach. They managed to secure a buyer efficiently, significantly reducing the average days on the market by 80 days. The property's selling features, including the spacious square footage, stunning ocean view, expansive balcony, and club amenities, played a pivotal role in attracting the buyer.

Players

Claudia Ramirez

Sotheby's International Realty

Broker

$5.4M

vol

2 deals

Broker

Sunny Isles Beach Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

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