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2121 North Bayshore Drive

Charles Leclerc Acquires Condo At Edition Residences Miami From Taylor Collins
SOLDCondo

Charles Leclerc Acquires Condo At Edition Residences Miami From Taylor Collins

2121 North Bayshore Drive

Building Size

Asset Type

Condo

Closing

Apr 30, 2024

AI

A waterfront "Signature Residence" at the Edition Residences in Miami's Edgewater neighborhood has been purchased by Formula 1 racer Charles Leclerc. The development, set to debut in three years, offers condos starting at $3.1 million, featuring expansive terraces and panoramic views of Miami Beach and Biscayne Bay. The specific details of Leclerc's unit, spanning floors 10 to 40 of the 55-story tower, remain undisclosed. The Edition Residences come with luxury amenities like lush gardens, a cabana-lined pool, fitness facilities, and a high-tech racing simulator.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: Not disclosed
  • Buyer: Charles Leclerc
  • Seller: Taylor Collins - Two Roads Development
  • Buyer's Rep: Hans Baumgartner
  • Seller's Rep: Adriana Molina - Douglas Elliman
  • Address: 2121 North Bayshore Drive, Miami
  • Market: Miami

Charles Leclerc, a renowned Formula 1 racer, has made a significant real estate investment by purchasing a prestigious residence in a highly anticipated Miami development. Represented by Hans Baumgartner, Leclerc acquired a prime property in a vibrant neighborhood, with the transaction facilitated by Adriana Molina from Douglas Elliman on behalf of the seller Taylor Collins of Two Roads Development.

Players

Adriana Molina

Douglas Elliman

Broker

$17.5M

vol

2 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93