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
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