Laércio José De Lucena Cosentino Sells Fendi Château Unit In Surfside For $27.1M
9349 Collins Avenue
$27,100,000
$3,985/SF
Building Size
6,800 SF
Asset Type
Condo
Closing
Nov 21, 2023
About this deal
AI
A Fendi Château unit in Surfside, owned by Brazilian software executive Laércio José De Lucena Cosentino, has been sold in an off-market deal for $27.1 million. The 6,800-square-foot condo was purchased by Cosentino in 2016 for $10.8 million, making the recent sale a lucrative investment. The transaction reflects a price per square foot of approximately $4,000.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $27,100,000
- Square Footage: 6,800
- Price Per Square Foot: $3,985
- Market: Surfside
The seller of the property is Laércio José De Lucena Cosentino, the founder of Totvs, a software company. Cosentino sold the condo through an off-market deal, indicating the strong demand for luxury properties in the area. This transaction highlights the success of his investment in the Fendi Château unit, which has appreciated significantly since his purchase in 2016.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93