Turnberry Ocean Club Sells Condo In Sunny Isles Beach For $5.2M
SOLD
$5,225,000
Florida
See Similar DealsCondo4,185 SF
Sold 12/21/2021
SOLD
Turnberry Ocean Club Sells Condo In Sunny Isles Beach For $5.2M
18501 Collins Avenue, Sunny Isles Beach, FL 33160
See Similar DealsCondo4,185 SF
Sold 12/21/2021
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,248
Total Square Footage:4,185 SF
Transaction Type:Sale
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
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$278,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,563.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,769.17
Annual Debt Service$297,229.99
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