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
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