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Emiliano Sebastian Fernandez Balague Acquires Sunny Isles Beach Condo For $30M

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SOLD
$30,000,000

Florida

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Condo9 SF
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SOLD

Emiliano Sebastian Fernandez Balague Acquires Sunny Isles Beach Condo For $30M

18501 Collins Avenue, Sunny Isles Beach, Florida 33160, United States

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Condo9 SF
Sold
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Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$3333333
Total Square Footage:9 SF
Transaction Type:Sale

Located at 18501 Collins Avenue Unit PH-01 in Sunny Isles Beach, this condo was recently sold in a closed transaction. The property, with a total square footage of 9,600, offers luxurious living spaces and breathtaking ocean views. The sale took place on March 10, 2023, and was managed by Fontainebleau Development's Jeffrey Soffer. The buyer, Emiliano Sebastian Fernandez Balague, acquired this stunning condo for a sale price of $30,000,000, at a rate of $3,125 per square foot.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $30,000,000
  • Address: 18501 Collins Avenue Unit PH-01, Sunny Isles Beach
  • Market: Sunny Isles Beach
  • Buyer: Emiliano Sebastian Fernandez Balague
  • Seller: Fontainebleau Development - Jeffrey Soffer

The sale of this remarkable condo showcases the luxurious real estate market in Sunny Isles Beach. With its spectacular features and prime location, this property undoubtedly represents a significant investment. Both the buyer and seller, Emiliano Sebastian Fernandez Balague and Fontainebleau Development's Jeffrey Soffer respectively, were key players in ensuring the success of this transaction.

Players

BROKERAGE

Jeff Soffer
11 deals$2.1B volume
SELLER

Details

SOLD
IMAGE: Jeffrey Soffer DATE: 03/10/2023 ADDRESS: 18501 Collins Avenue Unit PH-01 MARKET: Sunny Isles Beach ASSET TYPE: Condo BUYER: Emiliano Sebastian Fernandez Balague SELLER: Fontainebleau Development (@FontainebleauDevelopment) - Jeffrey Soffer SALE PRICE: $30,000,000 SF: 9,600 ~ PPSF: $3,125

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66