Steven Lagos And Kristie Nicolosi Purchase Miami Beach Condo From Terra Group For $4.15M
SOLD
$4,150,000
Florida
See Similar DealsCondo1,969 SF
Sold 12/04/2024
SOLD
Steven Lagos And Kristie Nicolosi Purchase Miami Beach Condo From Terra Group For $4.15M
501 West Avenue
See Similar DealsCondo1,969 SF
Sold 12/04/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,107
Total Square Footage:1,969 SF
Transaction Type:Sale
The property asset involved in this transaction is a condo located at 501 West Avenue Unit 2905 in the Miami Beach market. The sale price of the condo is $4,150,000, and it encompasses a total square footage of 1,969 with a price per square foot of $2,107.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,150,000
- Buyer: Steven Lagos & Kristie Nicolosi
- Seller: Terra Group
- Buyer’s Representative: Jared Robins - One Sotheby’s International Realty
- Seller’s Representative: Angel Gonzalez - Douglas Elliman
This deal highlights the involvement of Jared Robins, representing the buyers, and Angel Gonzalez, representing the sellers in this transaction. Both representatives belong to prominent realty firms that facilitated the completion of this sale, showcasing their expertise in handling high-value property transactions.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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