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Arvind & Shilpa Sanger Acquire Faena House Condo In Miami Beach For $15.5M

Property Image
SOLD
$15,500,000
Bryan Sereny
Bill Hernandez
LL
+ 1

Florida

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Condo6,246 SF
Sold 05/03/2022
the dealplayerscompscontact
Property Image
SOLD

Arvind & Shilpa Sanger Acquire Faena House Condo In Miami Beach For $15.5M

3315 Collins Avenue

See Similar Deals
Condo6,246 SF
Sold 05/03/2022
Bryan Sereny
Bill Hernandez
LL
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,481
Total Square Footage:6,246 SF
Transaction Type:Sale

The property involved in this transaction is a condo located at 3315 Collins Ave 6A in Faena House, Miami Beach. The sale took place on 05/04/2022.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $15,500,000
  • Square Footage: 6,246
  • Price per Square Foot: $2,482
  • Address: 3315 Collins Ave 6A, Miami Beach
  • Market: Miami Beach

The buyer of the property is Arvind and Shilpa Sanger, while the seller is Leonard Licht. The deal was facilitated by brokers Bill Hernandez and Bryan Sereny of the Bill & Bryan Team at Douglas Elliman.

Players

Bryan Sereny
Douglas Elliman
Bryan Sereny
20 deals$247.7M volume
BROKER
Bill Hernandez
Douglas Elliman
Bill Hernandez
19 deals$241.8M volume
BROKER
AS
Arvind Sanger
2 deals$31M volume
BUYER
LL
Leonard Licht
2 deals$31M volume
SELLER

Details

SOLD
IMAGE: Bill Hernandez & Bryan Sereny DATE: 05/04/2022 ADDRESS: 3315 Collins Ave 6A - Faena House MARKET: Miami Beach ASSET TYPE: Condo BUYER: Arvind & Shilpa Sanger SELLER: Leonard Licht BROKERS: Bill Hernandez (@Bill.Hernandez) & Bryan Sereny (@BryanSereny) - Bill & Bryan Team (@BillandBryanTeam) - Douglas Elliman (@DouglasElliman) (@DouglasEllimanFlorida) SALE PRICE: $15,500,000 SF: 6,246 ~ PPSF: $2,482

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

$826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89