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9001 Collins Avenue

Peter Fine Of Atlantic Development Group Acquires Surfside Condo From Richard Ruben For $14.3M
SOLDCondo

Peter Fine Of Atlantic Development Group Acquires Surfside Condo From Richard Ruben For $14.3M

9001 Collins Avenue

$14,300,000

$5,500/SF

Building Size

2,600 SF

Asset Type

Condo

Closing

Dec 27, 2024

AI

This transaction involves a condo located at 9001 Collins Avenue S-1009 in the Surfside market. The unit measures 2,600 square feet and was sold for $14,300,000, translating to a price per square foot of $5,500.

Summary of transaction details:

Richard Ruben sold his condo at the Surf Club Four Seasons to Peter Fine, a developer known for affordable housing and luxury spec homes. The condo was previously bought by Ruben in 2018 for $5.8 million. The unit was listed by Michael Duchon and Eloy Carmenate of The Corcoran Group.

Players

Eloy Carmenate

The Corcoran Group

Broker

$584.2M

vol

32 deals

Broker

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

1.11%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93