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788 Northeast 23rd Street

Nicky Jam Buys $4.1M Miami Condo Represented By Tony Rodriguez-Tellaheche
SOLDCondo

Nicky Jam Buys $4.1M Miami Condo Represented By Tony Rodriguez-Tellaheche

788 Northeast 23rd Street

$4,100,000

$1,507/SF

Building Size

2,720 SF

Asset Type

Condo

Closing

Mar 7, 2024

AI

The property involved is a condo located at 788 Northeast 23rd Street Unit 601 in Miami. The condo was sold for $4,100,000 and spans a total area of 2,720 square feet, equating to a price per square foot of $1,507. Situated in the Edgewater neighborhood, the Elysee condo offers luxury amenities and provides convenient access to downtown, Wynwood, the Design District, and the beach.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $4,100,000
  • Buyer: Nick Rivera Caminero aka Nicky Jam
  • Buyer's Representative: Tony Rodriguez-Tellaheche - Prestige Realty Group
  • Seller's Representative: Alison Parker - Douglas Elliman
  • Market: Miami
  • Square Footage: 2,720
  • Price per Square Foot: $1,507
  • Address: 788 Northeast 23rd Street Unit 601

Reggaeton artist Nicky Jam purchased the condo with the assistance of Tony Rodriguez-Tellaheche from Prestige Realty Group. The unit features waterfront views and boasts over 3,100 square feet of space, making it a desirable residence in Miami's vibrant Edgewater neighborhood. Alison Parker of Douglas Elliman represented the seller in this real estate transaction.

Players

Tony Rodriguez-Tellaheche

Broker

$27.7M

vol

5 deals

Broker

Miami 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

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93