Christopher Boudreax And Athy & Petros Kirtses Acquire Condo In Miami, FL For $3.125M
488 Northeast 18th Street
$3,125,000
$1,548/SF
Building Size
2,018 SF
Asset Type
Condo
Closing
Apr 15, 2022
AI
The property involved in this transaction is a condo located at 488 NE 18th St in Miami, FL. The sale took place on April 15, 2022. The total sale price for the property was $3,125,000.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $3,125,000
The buyer of the property is Christopher Boudreax, along with Athy & Petros Kirtses and Goritza Draskovich. The seller was represented by Cervera Real Estate.
Goritza Draskovich, the realtor in residence and Building Expert at Aria On The Bay condominium, was involved in these sales. The two separate sales represent the highest price per square foot recently sold in the building. The first property was sold for $2,050,000 with a square footage of 2,018 and a price per square foot of $1,015. The second property was sold for $1,075,000 with a square footage of 1,390 and a price per square foot of $775.
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
5.08%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93