Jordan Karp LLC Represents Buyer In Sale Of Miami Beach Condo For $6.7M
SOLD
$6,700,000
Florida
See Similar DealsCondo2,615 SF
Sold
SOLD
Jordan Karp LLC Represents Buyer In Sale Of Miami Beach Condo For $6.7M
500 Alton Road
See Similar DealsCondo2,615 SF
Sold
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2562
Total Square Footage:2615 SF
Transaction Type:Sale
The transaction involved a condominium located at 500 Alton Road Unit 3703 in Miami Beach. The property was sold for $6,700,000, encompassing a total square footage of 2,615 and a price per square foot of $2,562.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,700,000
- Address: 500 Alton Road Unit 3703
- Market: Miami Beach
- Square Footage: 2,615
- Price Per Square Foot: $2,562
- Buyer's Representative: Jordan Karp - Jordan Karp LLC
- Seller's Representative: Nelson Gonzalez - Berkshire Hathaway HomeServices
- Buyer's Attorney: Charlie Ratner
The representatives involved played significant roles in the transaction, with Jordan Karp acting on behalf of the buyer through his agency, Jordan Karp LLC. Nelson Gonzalez represented the seller from Berkshire Hathaway HomeServices, ensuring the deal progressed smoothly while Charlie Ratner served as the buyer's attorney throughout the process.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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