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488 Northeast 18th Street

John And Gloria Gebbia Living Trust Acquires Miami Condo For $2.3M
SOLDCondo

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

Elisheva Soto

Luxe Living Realty

Broker

$2.3M

vol

1 deal

Broker

John Gebbia Jr.

Living Trust

Buyer

$34.1M

vol

3 deals

Buyer
LT
Living TrustBuyer

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