John And Gloria Gebbia Living Trust Acquires Miami Condo For $2.3M
488 Northeast 18th Street
$2,300,000
$1,139/SF
Building Size
2,018 SF
Asset Type
Condo
Closing
Dec 28, 2023
AI
A condo located at 488 Northeast 18th Street in Miami has been sold in a recent transaction. The property was sold by Spade Venture Trust - Hannoch Guttman to the buyers, John And Gloria Gebbia Living Trust.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,300,000
- Square Footage: 2,018 SF
- Price per Square Foot: $1,140
- Asking Price: $2,547,000
- Market: Miami
The buyers were represented by Eli Soto from Luxe Living Realty, while the sellers were represented by their own trust, Spade Venture Trust - Hannoch Guttman.
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93