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
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