facebook
Traded Co logo
Submit

Terra Group Sells Condo At 500 Alton Road Miami Beach For $6.5 Million With Brokers Gillian Fessler & Angelica Garcia

Property Image
SOLD
$6,500,000

Florida

See Similar Deals
Condo3,186 SF
Sold 01/09/2025
the dealplayerscompscontact
Property Image
SOLD

Terra Group Sells Condo At 500 Alton Road Miami Beach For $6.5 Million With Brokers Gillian Fessler & Angelica Garcia

500 Alton Road

See Similar Deals
Condo3,186 SF
Sold 01/09/2025
Contact now

Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,040
Total Square Footage:3,186 SF
Transaction Type:Sale

The property asset involved in this transaction is a condo located at 500 Alton Road Unit 3601 in Miami Beach. The selling price for this condo was $6,500,000, with a square footage of 3,186, resulting in a price per square foot of $2,040.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $6,500,000
  • Address: 500 Alton Road Unit 3601
  • Market: Miami Beach
  • Square Footage: 3,186
  • Price per Square Foot: $2,040
  • Seller: Terra Group
  • Broker Representatives: Gillian Fessler & Angelica Garcia - Douglas Elliman

This sale was noted as one of the first transactions in the project during the friends and family stage of launching, which is considered an advantageous time for buyers in new development condo projects.

Players

Gillian Fessler
6 deals$79.5M volume
BROKER

Angelica Garcia
Douglas Elliman
6 deals$34M volume
BROKER

Details

SOLD
IMAGE: Gillian Fessler & Angelica Garcia DATE: 02/03/2025 ADDRESS: 500 Alton Road Unit 3601 MARKET: Miami Beach ASSET TYPE: Condo SELLER: Terra Group BROKERS: Gillian Fessler (@GillianFessler) & Angelica Garcia (@AngelicaGarcia04) - Douglas Elliman (@DouglasElliman) SALE PRICE: $6,500,000 SF: 3,186 ~ PPSF: $2,040 NOTE: This sale was one of the first sales in the project durning the friends and family stage of launching. One of the most advantageous times to buy in new development condo projects for buyers.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$346,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79