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
Miami Beach 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93