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480 Northeast 31st Street

Mikhail Mudrik Of The Agency Represents Buyer In $4.5M Condo Sale In Miami
SOLDCondo

Mikhail Mudrik Of The Agency Represents Buyer In $4.5M Condo Sale In Miami

480 Northeast 31st Street

$4,500,000

$1,500/SF

Building Size

3,000 SF

Asset Type

Condo

Closing

Sep 27, 2024

AI

The property involved in this transaction is a condo located at 480 Northeast 31st Street, Miami. The sale price for the property was $4,500,000. It has a total square footage of 3,000, resulting in a price per square foot of $1,500.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $4,500,000
  • Square Footage: 3,000
  • Price Per Square Foot: $1,500
  • Buyer's Representative: Mikhail Mudrik - The Agency
  • Seller's Representative: Adam Redolfi - ALURE Capital

This transaction marks a record sales price in the history of the Paraiso District, highlighting its significance in the local real estate market.

Players

Adam Redolfi

Alure Capital

Broker

$69.3M

vol

10 deals

Broker

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93