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315 Collins Avenue

Arvind Sanger's Geosphere Capital Management Acquires Miami Beach Condo For $15.5M
SOLDCondo

Arvind Sanger's Geosphere Capital Management Acquires Miami Beach Condo For $15.5M

315 Collins Avenue

$15,500,000

$3,277/SF

Building Size

4,730 SF

Asset Type

Condo

Closing

May 9, 2022

AI

A luxurious condo located at 3315 Collins Avenue Unit 6A in Miami Beach has been sold for a whopping $15,500,000. The spacious unit spans across 4,730 square feet, resulting in a price per square foot of $3,277. The property showcases a stunning design and offers a stylish living space in the heart of Miami Beach.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $15,500,000
  • Address: 3315 Collins Avenue Unit 6A
  • Market: Miami Beach
  • Square Footage: 4,730
  • Price per Square Foot: $3,277

The buyer of this prestigious property is Shilpa Sanger, accompanied by Arvind Sanger from Geosphere Capital Management. On the other hand, Judith Licht and Leonard Licht of HG Capital have sold their ownership of the condo. The buyer was represented by Bryan Sereny and Bill Hernandez from the Bill & Bryan Team at Douglas Elliman. Toni Schrager from Brown Harris Stevens acted as the seller's representative in this transaction, facilitating the smooth transfer of ownership.

Players

Bryan Sereny

Douglas Elliman

Broker

$247.7M

vol

20 deals

Broker

Arvind Sanger

Buyer

$31M

vol

2 deals

Buyer

Leonard Licht

HG Capital

Seller

$31M

vol

2 deals

Seller
HC
HG CapitalSeller

Miami Beach Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93