The Ritz-Carlton Residences South Beach Sold For $27.5M With Seller's Reps Fredrik Eklund & Pietro Belmonte
1671 Collins Avenue
$27,500,000
$6,084/SF
Building Size
4,520 SF
Asset Type
Condo
Closing
May 14, 2026
AI
The property asset involved in this transaction is a condo located at 1671 Collins Avenue Unit 15A in Miami Beach. This residence was sold for $27,500,000 and encompasses a total area of 4,520 square feet, translating to a price per square foot of $6,084.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $27,500,000
- Address: 1671 Collins Avenue Unit 15A
- Market: Miami Beach
- Seller: The Ritz-Carlton Residences, South Beach
- Seller's Representatives: Fredrik Eklund & Pietro Belmonte - Douglas Elliman
- Square Footage: 4,520
- Price per Square Foot: $6,084
The deal highlights the Eklund|Gomes Team's role in successfully selling this oceanfront residence at The Ritz-Carlton Residences, South Beach. This transaction marks a significant achievement, with the project securing over $50M in signed contracts within the last 30 days, reflecting a robust demand for branded boutique oceanfront residences.
Players
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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93