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725 Northeast 24th Street

Preeti Bajaj & Rajiv Korpal Acquire Edgewater Condo From The Melo Group For $2.57M
SOLDCondo

Preeti Bajaj & Rajiv Korpal Acquire Edgewater Condo From The Melo Group For $2.57M

725 Northeast 24th Street

$2,575,900

$1,289/SF

Building Size

1,997 SF

Asset Type

Condo

Closing

Nov 9, 2022

AI

The recently closed property transaction in Edgewater, Miami involves a stunning condo located at 725 NE 24th St. The condo offers a total area of 1,997 square feet and was sold for a total price of $2,575,900, resulting in a price per square foot of $1,290. This transaction took place on November 9, 2022, and the property belongs to the asset type of Condo.

Summary of transation details

  • Property Type: Condo
  • Transaction Amount: $2,575,900
  • Square Footage: 1,997 sqft
  • Price per Square Foot: $1,290
  • Address: 725 NE 24th St, Edgewater, Miami
  • Buyer: Preeti Bajaj & Rajiv Korpal
  • Seller: The Melo Group ; Aria Reserve
  • Broker: Alvina Nosikovsky - Premier Elite Realty

The buyers, Preeti Bajaj and Rajiv Korpal, were guided through this transaction by their broker representative, Alvina Nosikovsky from Premier Elite Realty. Alvina can be reached at [email protected] or 646.220.8533. The note from the brokers indicates that they have successfully found a dream home for their clients.

Players

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