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:
- Property Type: Condo
- Transaction Amount: $14,300,000
- Buyer: Peter Fine - Atlantic Development Group
- Seller: Richard Ruben - Ruben Companies
- Buyer's Representative: Ximena Penuela - Fort Realty
- Seller's Representatives: Eloy Carmenate & Michael Duchon - The Corcoran Group
- Sale Date: 12/27/2024
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
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