Michael Harvey Acquires Condo In Miami For $3.5M With Buyer's Rep Brandon Sticca
851 Northeast 1st Avenue
$3,500,000
$1,428/SF
Building Size
2,450 SF
Asset Type
Condo
Closing
Nov 22, 2023
AI
A condo located at 851 Northeast 1st Avenue in Miami has been sold for $3,500,000. The property spans across 2,450 square feet and has a price per square foot of $1,429.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $3,500,000
- Square Footage: 2,450
- Price Per Square Foot: $1,429
- Address: 851 Northeast 1st Avenue, Miami
The buyer in this transaction is Michael Harvey, while Kenneth Chidi Funk is the seller. Brandon Sticca from Douglas Elliman represented the buyer, and Sonia Toth from Brown Harris Stevens represented the seller.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93