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5775 Collins Ave #903-04,Mi...

Updated Sep 9, 2024

Ivan Chorney & Michael Martirena Acquire Condo On 5775 Collins Ave, Miami Beach For $7.15M
SOLDCondo

Ivan Chorney & Michael Martirena Acquire Condo On 5775 Collins Ave, Miami Beach For $7.15M

5775 Collins Ave #903-04,Miami Beach,Fl

$7,150,000

$2,042/SF

Building Size

3,500 SF

Asset Type

Condo

Closing

Oct 21, 2021

About this deal

AI

A luxury condo located at 5775 Collins Ave in Miami Beach has been sold for the asking price of $7,150,000. Spanning across approximately 3,500 square feet, this exquisite property offers a comfortable and spacious living space for its new owner. The price per square foot for this transaction is estimated to be $2,043.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $7,150,000
  • Address: 5775 Collins Ave, Miami Beach
  • Square Footage: 3,500
  • Price per Square Foot: $2,043

The sale of this remarkable condo was facilitated by brokers Ivan Chorney & Michael Martirena, who are part of the Ivan and Mike Team at Compass. They played a crucial role in ensuring a successful transaction between the buyer and seller. The expertise and dedication of Ivan Chorney & Michael Martirena further emphasized the value and desirability of this luxury property.

Players

Michael Martirena

Compass

Broker

$317.5M

vol

25 deals

Broker

Miami Beach Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Deal FAQ

About $2K per square foot on a published $7.2M for 3,500 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.22%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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