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725 Northeast 24th Street

Preeti Bajaj & Rajiv Korpal Acquire Edgewater Condo From The Melo Group For $2.6M
SOLDCondo

Preeti Bajaj & Rajiv Korpal Acquire Edgewater Condo From The Melo Group For $2.6M

725 Northeast 24th Street

$2,575,900

$787/SF

Building Size

3,270 SF

Asset Type

Condo

Closing

Sep 11, 2022

AI

A condo located at 725 NE 24th St in Edgewater, Miami, was recently sold for a sale price of $2,575,900. The property spans 1,997 square feet and has a price per square foot of $1,290.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $2,575,900
  • Market: Edgewater, Miami
  • Address: 725 NE 24th St

The buyers of the condo are Preeti Bajaj and Rajiv Korpal. The sellers are The Melo Group and Aria Reserve. The broker responsible for the transaction is Alvina Nosikovsky from Premier Elite Realty.

Alvina Nosikovsky can be reached via email at [email protected] or by phone at 646.220.8533. According to the brokers, they found a dream home for their clients.

Players

Alvina Nosikovsky

Premier Elite Realty

Broker

$2.6M

vol

1 deal

Broker

Preeti Bajaj

Buyer

$5.2M

vol

2 deals

Buyer
Melo Group
Melo GroupSeller

Miami Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.16%

Cash-on-Cash

-1.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93