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450 Alton Road

Michael & Rina Nessim Acquire Miami Beach Condo For $3.1M
SOLDCondo

Michael & Rina Nessim Acquire Miami Beach Condo For $3.1M

450 Alton Road

$3,100,000

$1,445/SF

Building Size

2,145 SF

Asset Type

Condo

Closing

Apr 10, 2023

AI

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.

Players

Jennifer Goldstein

Douglas Elliman

Broker

$161.2M

vol

33 deals

Broker

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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93