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Nadim Ashi Of Fort Partners Acquires Condo In Surfside For $24.5M With Financing From City National Bank
SOLD
$24,500,000
Florida
See Similar DealsCondo4,400 SF
Sold 07/22/2025
SOLD
Nadim Ashi Of Fort Partners Acquires Condo In Surfside For $24.5M With Financing From City National Bank
9149 Collins Avenue
See Similar DealsCondo4,400 SF
Sold 07/22/2025
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$5,568
Total Square Footage:4,400 SF
Transaction Type:Sale
A condo unit located at 9149 Collins Avenue Unit 103 in Surfside was sold for a price of $24,500,000. The property encompasses a total area of 4,400 square feet, with a price per square foot of $5,568.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $24,500,000
- Buyer: Nadim Ashi
- Buyer's Company: Fort Partners
- Lender: City National Bank of Florida
- Financing Amount: $16,400,000
- Total Seaway Sales: $320,700,000
- Recent Financing for Expansion: $218,000,000
Nadim Ashi, representing Fort Partners, acquired the unit as part of their expansion plans related to the Surf Club-affiliated developments. The financing from City National Bank of Florida facilitated the purchase, contributing to Fort Partners' broader strategy in the Surfside market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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