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.
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Miami Beach Condo Market Snapshot
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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