Steven Lagos And Kristie Nicolosi Purchase Miami Beach Condo From Terra Group For $4.15M
501 West Avenue
$4,150,000
$2,107/SF
Building Size
1,969 SF
Asset Type
Condo
Closing
Dec 4, 2024
AI
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
Miami Beach 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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93