Ivan And Mike Team Acquire Condo At 5775 Collins Ave In Miami Beach For $7.3M
5775 Collins Avenue, Miami Beach, Florida 33140, United States
$7,300,000
$1,421/SF
Building Size
5,135 SF
Asset Type
Condo
Closing
Oct 22, 2021
About this deal
AI
A condo located at 5775 Collins Ave in Miami Beach recently sold for $7,300,000. The property spans 5,135 square feet, resulting in a price per square foot of $1,422. The transaction took place on October 22, 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $7,300,000
- Address: 5775 Collins Ave, Miami Beach
- Square Footage: 5,135
- Price per Square Foot: $1,422
The deal was facilitated by Michael Martirena and Ivan Chorney, who represented the buyer and seller respectively. They are part of the Ivan and Mike Team at Compass, a real estate agency.
Players
Miami Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $1.4K per square foot on a published $7.3M for 5,135 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93