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
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