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Maggie And Reed Cordish Acquire Miami Beach Condo From PDS Development

Property Image
SOLD
$6,900,000

Florida

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Condo3,808 SF
Sold 04/13/2021
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Property Image
SOLD

Maggie And Reed Cordish Acquire Miami Beach Condo From PDS Development

6800 Fisher Island Drive

See Similar Deals
Condo3,808 SF
Sold 04/13/2021
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Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,812
Total Square Footage:3,808 SF
Transaction Type:Sale

An impressive condominium in Miami Beach has recently been sold for $6,900,000. This stunning property offers a spacious 3,808 square feet of living space, translating to a price per square foot of $1,812. Situated within a desirable market, this condo is a highly sought-after asset.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $6,900,000
  • Square Footage: 3,808
  • Price per Square Foot: $1,812
  • Market: Miami Beach

The buyers, Maggie Cordish and Reed Cordish, represented by Jill Eber of The Jills Zeder Group - Coldwell Banker, acquired this remarkable property from PDS Development, with Heinrich von Hanau as the seller. Maggie Cordish, along with Reed Cordish from The Cordish Companies, recognized the value in this condominium located in Miami Beach.

Dora Puig from Luxe Living Realty acted as the seller's representative, ensuring a smooth transaction for both parties involved. The involvement of these experienced professionals showcases their expertise in the Miami Beach real estate market. This deal highlights the continued interest in prime properties in the area, attracting buyers who recognize the allure of the Miami Beach lifestyle.

Players

Dora Puig
86 deals$1.4B volume(305) 613-2118
BROKER

Jill Eber
Coldwell Banker
45 deals$1.1B volume
BROKER

Heinrich Von Hanau
8 deals$78.5M volume
SELLER

Details

SOLD
IMAGE: Reed Cordish, Maggie Cordish & Heinrich von Hanau DATE: 04/13/2021 MARKET: Miami Beach ASSET TYPE: Condo BUYER: Maggie Cordish; Reed Cordish - The Cordish Companies SELLER: PDS Development - Heinrich von Hanau BUYER'S REP: Jill Eber - The Jills Zeder Group - Coldwell Banker SELLER'S REP: Dora Puig - Luxe Living Realty PRICE: $6,900,000 SF: 3,808 ~ PPSF: $1,812

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$367,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24