Arte Surfside Acquires Condo In Surfside For $17M With Seller's Rep Douglas Elliman
8955 Collins Avenue
$17,000,000
$2,437/SF
Building Size
6,975 SF
Asset Type
Condo
Closing
Jan 25, 2023
AI
A luxury condo located at 8955 Collins Avenue in the Surfside market has been sold for a staggering price of $17,000,000. This spacious condo boasts a total area of 6,975 square feet, translating to a price per square foot of $2,437. The property, developed by Alex Sapir and Giovanni Fasciano of Arte Surfside, offers an exclusive and opulent living experience in one of the most sought-after locations.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $17,000,000
- Address: 8955 Collins Avenue
- Market: Surfside
Facilitating this remarkable sale were Miltiadis Kastanis and Dina Goldentayer of Douglas Elliman, acting as the seller's representatives. Their expertise and negotiation skills played a pivotal role in finalizing the deal. The successful transaction highlights the immense market value and desirability of the property.
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93