Mikhail Mudrik Of The Agency Represents Sale Of Miami Beach Condo For $2.85M

The property asset involved in this transaction is a condo located at 8701 Collins Avenue in Miami Beach. The sale price for the condo was $2,850,000, with a total square footage of 1,602, leading to a price per square foot of $1,779.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $2,850,000
• Address: 8701 Collins Avenue
• Market: Miami Beach
• Square Footage: 1,602
• Price Per Square Foot: $1,779
• Broker: Mikhail Mudrik - The Agency

This transaction involved Mikhail Mudrik from The Agency, who represented the client. The client was engaged in a 1031 exchange and required over 30 days to complete the process. To navigate this condition, a reverse 1031 exchange was structured, allowing the client to satisfy the cash closing requirement while still deferring capital gains taxes.