Terra Group Sells Condo At 500 Alton Road Miami Beach For $6.5 Million With Brokers Gillian Fessler & Angelica Garcia
SOLD
Florida
See Similar DealsCondo3,186 SF
Sold 01/09/2025
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 DealsCondo3,186 SF
Sold 01/09/2025
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
Details
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
30 years
10 years
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
Is there something missing? Send suggestions
