57 Ocean 1701 Land Trust Acquires Condo In Miami Beach From José Isaac Peres For $37M
5775 Collins Avenue, Miami Beach, Florida 33140, United States
$37,000,000
$4,962/SF
Building Size
7,456 SF
Asset Type
Condo
Closing
Jun 27, 2022
About this deal
AI
The property involved in this transaction is a condo located at 5775 Collins Avenue PH1 in Miami Beach. The condo has a total area of 7,456 square feet. The sale took place on June 27, 2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $37,000,000
- Square Footage: 7,456
- Price per Square Foot: $4,962
- Address: 5775 Collins Avenue PH1, Miami Beach
- Market: Miami Beach
The buyer of the condo is 57 Ocean 1701 Land Trust, while the seller is José Isaac Peres, representing Multiplan Real Estate Asset Management. The broker involved in the transaction is Edgardo Defortuna from Fortune International Realty.
On the Map
$37,000,000
$4,962/SF
Condo
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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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93