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5333 Collins Avenue

Mast Capital And Starwood Capital Acquire Condo On 5333 Collins Avenue In Miami Beach
SOLDCondo

Mast Capital And Starwood Capital Acquire Condo On 5333 Collins Avenue In Miami Beach

5333 Collins Avenue

$9,250,000

$2,429/SF

Building Size

3,808 SF

Asset Type

Condo

Closing

Oct 24, 2023

AI

A luxurious condo located at 5333 Collins Avenue in Miami Beach has been sold in a recent property transaction. The condo spans across 3,808 square feet and boasts a stunning view of the city. The property was sold for a hefty price of $9,250,000, exceeding the initial asking price of $8,250,000. With a price per square foot of $2,429, this condo stands out as a remarkable investment opportunity.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $9,250,000
  • Address: 5333 Collins Avenue, Miami Beach
  • Market: Miami Beach

The esteemed buyers of this lavish condo are Mast Capital and Starwood Capital. These reputable entities have joined forces to secure this valuable real estate asset. Elke Johnson from Douglas Elliman served as the buyer's representative in this transaction, showcasing her expertise in the market. The involvement of such prominent individuals highlights the significance of this deal.

Players

Elke Johnson

Douglas Elliman

Broker

$18.4M

vol

5 deals

Broker

Miami Beach 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

1.71%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93