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Brodson Construction Sells Apogee Miami Beach Condo For $19.25M

Property Image
SOLD
$19,250,000
Leah Barney
Jill Hertzberg
BB

Florida

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Condo
Sold 12/10/2023
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Property Image
SOLD

Brodson Construction Sells Apogee Miami Beach Condo For $19.25M

800 South Pointe Drive

See Similar Deals
Condo
Sold 12/10/2023
Leah Barney
Jill Hertzberg
BB
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Condo
Transaction Type:Sale

A luxury condo in Apogee Miami Beach was recently sold for a staggering price of $19,250,000. Located at 800 South Pointe Drive Unit 1504, this 3,731-square-foot property showcases the strong demand for high-end condos in Miami Beach. The sale of Unit 1504 marks a significant increase from its previous transaction price of $14.2 million in April 2022, highlighting the substantial growth in value.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $19,250,000
  • Address: 800 South Pointe Drive Unit 1504
  • Market: Miami Beach

The seller of this extraordinary condo is Barry Brodsky, the renowned founder of Brodson Construction. Representing the buyer, Leah Barney from Official played a key role in facilitating the transaction. On the other side, Jill Hertzberg from Coldwell Banker acted as the seller's representative, ensuring a smooth and successful deal.

Players

Jill Hertzberg
Coldwell Banker
Jill Hertzberg
87 deals$2.3B volume
BROKER
Leah Barney
The Corcoran Group
Leah Barney
6 deals$34.3M volume(609) 280-8702
BROKER
BB
Barry P Brodsky
5 deals$81.1M volume
SELLER

Details

SOLD
IMAGE: Jill Hertzberg & Leah Barney DATE: 12/10/2023 ADDRESS: 800 South Pointe Drive Unit 1504 MARKET: Miami Beach ASSET TYPE: Condo SELLER: Barry Brodsky (@BarrypBrodsky) - Brodson Construction (@BrodsonInc) BUYER'S REP: Leah Barney (@LeahBarneyMiami) - Official (@OfficialPartners) SELLER'S REP: Jill Hertzberg (@JillHertzberg) - Coldwell Banker (@CBRealtyForida) SALE PRICE: $19,250,000 NOTE: A condo in Apogee Miami Beach was sold for $19.25 million, marking a substantial increase from its previous trade at $14.2 million in April 2022. The 3,731-square-foot Unit 1504 at 800 S. Pointe Drive highlights the strong demand for luxury condos in Miami Beach.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,026,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$68,391.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,254.82
Annual Debt Service$1,095,057.85