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Namdar Realty Group Acquires Miami Beach Condo For $27M

Property Image
SOLD
$27,000,000
Michele Redlich
Igal Namdar
JA
+ 1

Florida

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Condo
Sold 03/24/2023
the dealplayerscompscontact
Property Image
SOLD

Namdar Realty Group Acquires Miami Beach Condo For $27M

4401 Collins Avenue Ph South &Amp; Ph North

See Similar Deals
Condo
Sold 03/24/2023
Michele Redlich
Igal Namdar
JA
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Condo
Transaction Type:Sale

A penthouse condominium located at 4401 Collins Avenue in Miami Beach has been sold for a staggering price of $27,000,000. The transaction took place on March 24, 2023. Spanning across two units, the penthouse, known as PH-South and PH-North, offers luxurious living spaces in the heart of Miami Beach.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $27,000,000
  • Address: 4401 Collins Avenue, Miami Beach
  • Market: Miami Beach

The buyer of this remarkable property is Namdar Realty Group, represented by Igal Namdar and Jonathan Abda. On the other hand, the seller, Caryl Englander, entrusted the transaction to Linda Schecter and Gary Feinberg from Compass. The buyer's representative, Michele Redlich, ensured a smooth transaction for Namdar Realty Group through their association with Coldwell Banker Realty.

Players

Michele Redlich
Coldwell Banker
Michele Redlich
2 deals$29.3M volume(305) 725-3119
BROKER
CE
Caryl Englander
2 deals$40M volume
BROKER
Igal Namdar
Namdar Realty Group
Igal Namdar
22 deals$1.8B volume
BUYER
JA
Namdar Realty Group
Jonathan Abda
8 deals$308.3M volume
BUYER

Details

SOLD
IMAGE: Michele Redlich, Gary Feinberg & Linda Schecter DATE: 03/24/2023 ADDRESS: 4401 Collins Avenue PH-South & PH-North MARKET: Miami Beach ASSET TYPE: Condo BUYER: Namdar Realty Group - Igal Namdar & Jonathan Abda SELLER: Caryl Englander BUYER'S REP: Michele Redlich (@Michele_Redlich_Group) - Coldwell Banker Realty (@ColdwellBanker_Miami) SELLER'S REP: Linda Schecter (@LindaSchechter) & Gary Feinberg (@GaryFeinbergpa) - Compass (@Compass) (@CompassFL) SALE PRICE: $27,000,000

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

$1,440,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30