Melo Group Sells Edgewater Condo At Aria Reserve To Buyer's Rep Batsheba Korine For $5.6M
700 Northeast 24th Street, Miami, Florida 33137, United States
$5,625,000
$832/SF
Building Size
6,760 SF
Asset Type
Condo
Closing
Dec 19, 2022
AI
A waterfront PH Mansion with unobstructed direct views of Biscayne Bay has gone under contract at Aria Reserve in Edgewater. The property, located at 700 NE 24th St Suite A, is a condo with a size of 6,760 square feet. The sale price for this luxurious residence was $5,625,000, resulting in a price per square foot of $832.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $5,625,000
- Address: 700 NE 24th St Suite A
- Market: Edgewater
- Asset Type: Condo
- Seller: Melo Group
- Buyer's Representative: Batsheba Korine - BROKERS LLC
- Seller's Representative: Claudia Eusse @claudiapatriciaeusse
The buyer's representative for this transaction is Batsheba Korine from Brokers LLC. For more information about the project, interested parties can contact Batsheba Korine at (305) 965-9175 or via email at [email protected].
Players
Miami Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.82%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93