Pierre Gasly Acquires 3,712 Square Foot Condo In Miami From David Martin And Michael Simkins For $4.9M
3501 Northeast 1st Avenue
$4,900,000
$1,320/SF
Building Size
3,712 SF
Asset Type
Condo
Closing
Feb 5, 2026
AI
A 3,712-square-foot condo located at 3501 Northeast 1st Avenue in Miami has been sold for $4,900,000. This property is situated within the Jean-Georges Miami Tropic Residences, a 49-story luxury condo tower developed by Terra and Lion Development Group. The unit features four bedrooms, a private elevator, and a terrace.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,900,000
- Address: 3501 Northeast 1st Avenue
- Market: Miami
- Square Footage: 3,712
- Price per Square Foot: $1,320
- Buyer: Pierre Gasly
- Seller: David Martin - Terra
- Seller: Michael Simkins - Lion Development Group
- Buyer's Representatives: Hans Baumgartner - Miami Real Investment, Tara Ramos - P3PP3R Entertainment, Nicole Cardona - Douglas Elliman
The deal was facilitated by key representatives including Hans Baumgartner from Miami Real Investment, who represented the buyer, alongside Nicole Cardona serving as the in-house agent from Douglas Elliman. Tara Ramos, owner of the Swiss-based company P3PP3R Entertainment, played a significant role in ensuring the success of the transaction. The property design features Arquitectonica and Yabu Pushelberg interiors, complemented by amenities curated by chef Jean-Georges across five floors.
Players
Miami 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93