8701 Collins Land Trust Purchases Oceanfront Condo From David Edelstein For $18.1M In Miami Beach
8701 Collins Avenue
$18,100,000
$5,652/SF
Building Size
3,202 SF
Asset Type
Condo
Closing
Apr 26, 2026
AI
A 3,202-square-foot oceanfront condo located at 8701 Collins Avenue Unit 1605 in Miami Beach has been sold for $18,100,000. The property is classified as a condo and was sold for $5,653 per square foot. The sale reflects the increasing demand for luxury oceanfront condos in Miami Beach's North Beach market, nearly doubling the unit’s 2021 purchase price of $9.3 million.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $18,100,000
- Address: 8701 Collins Avenue Unit 1605
- Market: Miami Beach
- Square Footage: 3,202
- Price Per Square Foot: $5,653
- Buyer: 8701 Collins Land Trust
- Seller: David Edelstein - Tricap
The transaction was facilitated as an off-market deal with David Edelstein's entity selling the condo. The buyer in this transaction was the 8701 Collins Land Trust, indicating strategic investment interest in high-value properties within Miami Beach.
Players
Surfside 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93