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T-Rex Roars Trust Acquires Miami Condo For $15.25M With Cervera Real Estate
SOLD
$15,250,000
Florida
See Similar DealsCondo13,000 SF
Sold 05/15/2024
SOLD
T-Rex Roars Trust Acquires Miami Condo For $15.25M With Cervera Real Estate
300 Biscayne Boulevard
See Similar DealsCondo13,000 SF
Sold 05/15/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,173
Total Square Footage:13,000 SF
Transaction Type:Sale
A penthouse at the Aston Martin Residences in Miami was sold for $15.25 million. The property, located at 300 Biscayne Boulevard Unit 5601C, consists of a 13,000-square-foot unit with four bedrooms, five bathrooms, and a pool on a 2,800-square-foot terrace. The sale price equated to $1,173 per square foot.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $15,250,000
- Market: Miami
- Buyer: T-Rex Roars Trust
- Seller: G&G Business Developments
- Brokers: Mauricio Perez & Scott Lamoreaux - Cervera Real Estate
- SF: 13,000
- PPSF: $1,173
The deal was facilitated by the brokers Mauricio Perez and Scott Lamoreaux from Cervera Real Estate, representing the buyer and seller in the transaction.
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Deal Type
30 years
10 years
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
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