Turnberry Ocean Club Sells Condo In Sunny Isles Beach For $5.2M
18501 Collins Avenue, Sunny Isles Beach, FL 33160
$5,225,000
$1,248/SF
Building Size
4,185 SF
Asset Type
Condo
Closing
Dec 21, 2021
AI
A condominium unit located at 18501 Collins Ave Unit 503 in Sunny Isles Beach has been sold. The property, part of the Turnberry Ocean Club, was sold for a price of $5,225,000. The unit spans approximately 4,185 square feet, resulting in a price per square foot of $1,249.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $5,225,000
- Address: 18501 Collins Ave Unit 503, Sunny Isles Beach
- Market: Sunny Isles Beach
The sale was facilitated by two brokers representing the seller and the buyer. Sarah Gozlan from G Realty Group and Melissa Barragan from Dezer Platinum Realty played integral roles in the transaction.
It is noteworthy that the asking price for the property was $5,800,000, indicating a successful negotiation resulting in a sale below the initial asking price. The sale of this condominium unit at Turnberry Ocean Club exemplifies the vibrant real estate market in Sunny Isles Beach.
NOTE FROM BROKER: Turnberry Ocean Club
Players
Sunny Isles 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
3.04%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93