Compass & Douglas Elliman Close $12.45M Condo Sale In Miami Beach
SOLD
$12,450,000
+ 1
Florida
See Similar DealsCondo3,346 SF
Sold 06/06/2024
SOLD
Compass & Douglas Elliman Close $12.45M Condo Sale In Miami Beach
5775 Collins Avenue
See Similar DealsCondo3,346 SF
Sold 06/06/2024
+ 1
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$3,720
Total Square Footage:3,346 SF
Transaction Type:Sale
The property involved in the transaction is a condo located at 5775 Collins Avenue in Miami Beach, FL. The sale price for this asset was $12,450,000 with a total square footage of 3,346 and a price per square foot of $3,721.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $12,450,000
- Address: 5775 Collins Avenue
- Market: Miami Beach, FL
- Buyer's Rep: Ivan Chorney & Michael Martirena - Compass
- Seller's Rep: Dan Hechtkopf & Marci DeClaris - Douglas Elliman
The deal was facilitated by Ivan Chorney and Michael Martirena from Compass, representing the buyers, and Dan Hechtkopf and Marci DeClaris from Douglas Elliman, representing the sellers. These key individuals and companies played crucial roles in the successful transaction of the condo.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$664,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,232.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,019.35
Annual Debt Service$708,232.22
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