Sergio “Checo” Pérez Under Contract To Buy Condo In Miami For $6.94 Million
1809 Brickell Avenue
$6,940,000
$1,577/SF
Building Size
4,400 SF
Asset Type
Condo
Closing
Feb 26, 2025
AI
The asset involved in this transaction is a four-bedroom condo located at 1809 Brickell Avenue in Miami. The condo is priced at $6,940,000 and encompasses a spacious area of 4,400 square feet, translating to a price per square foot of $1,577. This property is situated in a 50-story tower, known as the St. Regis Residences, which is developed by Related Group and Integra Investments. The tower is currently over 65% sold and is anticipated to be completed in 2027.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,940,000
- Address: 1809 Brickell Avenue
- Market: Miami
- Square Footage: 4,400
- Price per Square Foot: $1,577
- Buyer: Sergio “Checo” Pérez
- Seller: Jorge, Jon Paul and Nicholas Pérez - Related Group; Paulo Tavares de Melo - Integra Investments
- Buyer’s Representative: Hans Baumgartner - Miami Real Investment
The key individuals involved in this transaction include buyer Sergio “Checo” Pérez, a noted figure in Formula 1 racing. The sellers are connected to Related Group and Integra Investments, whose representatives include Jorge, Jon Paul, and Nicholas Pérez along with Paulo Tavares de Melo. The buyer is represented by Hans Baumgartner from Miami Real Investment, facilitating the acquisition of this notable property.
Players
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
2.29%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93