Michael & Rina Nessim Acquire Miami Beach Condo For $3.1M
SOLD
$3,100,000
Florida
See Similar DealsCondo2,145 SF
Sold 04/10/2023
SOLD
Michael & Rina Nessim Acquire Miami Beach Condo For $3.1M
450 Alton Road
See Similar DealsCondo2,145 SF
Sold 04/10/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,445
Total Square Footage:2,145 SF
Transaction Type:Sale
The recent closed property transaction in Miami Beach involved a condo located at 450 Alton Rd Unit 801. This spacious condo spans over 2,145 square feet and was sold for a total price of $3,100,000, resulting in a price per square foot of $1,445.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $3,100,000
- Square Footage: 2,145
- Address: 450 Alton Rd Unit 801, Miami Beach
The buyers, Michael and Rina Nessim, were represented by their brokers Oren Alexander and Jennifer Goldstein from the Official agency.
It's important to note that the transaction took place on 04/10/2023 and the market for this property was Miami Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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