MM Turnberry Limited Partnership Acquires Condo In Sunny Isles Beach For $5M
SOLD
$5,000,000
Florida
See Similar DealsCondo2,900 SF
Sold 04/22/2022
SOLD
MM Turnberry Limited Partnership Acquires Condo In Sunny Isles Beach For $5M
18501 Collins Avenue, Sunny Isles Beach, Florida 33160, United States
See Similar DealsCondo2,900 SF
Sold 04/22/2022
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,724
Total Square Footage:2,900 SF
Transaction Type:Sale
A condo located at 18501 Collins Ave Unit 2003 in Sunny Isles Beach has been sold for $5,000,000. This property has a total area of 2,900 square feet and a price per square foot of $1,724. The transaction occurred on 04/22/2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $5,000,000
- Address: 18501 Collins Ave Unit 2003, Sunny Isles Beach
- Market: Sunny Isles Beach
- Asset Type: Condo
The buyer of the property is MM Turnberry Limited Partnership. The buyer was represented by Greg Gringruz from The Island - Your Real Estate Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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