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Naifeh And Lou Naser Purchase Condo At 300 Biscayne Boulevard For $15.25M With Lender Shawn Chemtov

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SOLD
$15,250,000

Florida

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Condo9,111 SF
Sold 11/19/2024
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Property Image
SOLD

Naifeh And Lou Naser Purchase Condo At 300 Biscayne Boulevard For $15.25M With Lender Shawn Chemtov

300 Biscayne Boulevard

See Similar Deals
Condo9,111 SF
Sold 11/19/2024
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Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,673
Total Square Footage:9,111 SF
Transaction Type:Sale

The asset involved in this transaction is a condo located at 300 Biscayne Boulevard Unit 5701C in Miami. It was sold for a price of $15,250,000. The unit spans 9,111 square feet, leading to a price per square foot of $1,674.

Summary of transation details:

  • Property Type: Condo
  • Transaction Amount: $15,250,000
  • Address: 300 Biscayne Boulevard Unit 5701C
  • Market: Miami
  • Buyer: Naifeh “Nina” Naser; Lou Naser - Global Wealth Partners
  • Seller: Germán Coto - G&G Business Developments
  • Broker: Alicia Cervera Lamadrid - Cervera Real Estate
  • Lender: Shawn Chemtov - Chemtov Mortgage Group
  • Buyer Representation: Lou Naser represents the buyer in the transaction.

The deal was facilitated by Alicia Cervera Lamadrid from Cervera Real Estate, representing the seller. The financing for this transaction was provided by Shawn Chemtov of Chemtov Mortgage Group. The property was sold to the Naser Family Trust, indicating a family investment in real estate.

Players

Alicia Cervera Lamadrid
1 deal$15.3M volume
BROKER

Chemtov Mortgage Group
LENDER

Details

SOLD
IMAGE: Germán Coto, Lou Naser, Alicia Cervera Lamadrid & Shawn Chemtov DATE: 11/19/2024 ADDRESS: 300 Biscayne Boulevard Unit 5701C MARKET: Miami ASSET TYPE: Condo BUYER: Naifeh “Nina” Naser; Lou Naser - Global Wealth Partners SELLER: Germán Coto - G&G Business Developments BROKER: Alicia Cervera Lamadrid - Cervera Real Estate (@CerveraRE) LENDER: Shawn Chemtov - Chemtov Mortgage Group SALE PRICE: $15,250,000 SF: 9,111 ~ PPSF: $1,674 NOTE: Loay "Lou" Naser, CEO of Global Wealth Partners, and his wife Naifeh "Nina" Naser paid $15.25 million for a penthouse in the newly completed Aston Martin Residences (@AstonMartinMiamiResidence) in Miami. The 9,111-square-foot unit was sold by Riverwalk East Developments LLC, an affiliate of G&G Business Developments, to the Naser Family Trust with financing from the Chemtov Mortgage Group.

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

$813,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$54,180.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,292.78
Annual Debt Service$867,513.36