Rick Teed Of The Agency Represents Buyer In $8.62M Sale Of Condo At Mr. C Residences
2655 South Bayshore Drive
$8,620,875
$2,371/SF
Building Size
3,636 SF
Asset Type
Condo
Closing
Jan 10, 2025
AI
The property involved in this transaction is a condo located at 2655 South Bayshore Drive Unit 1702-06, known as Mr. C Residences in Coconut Grove. The sale price for this unit was $8,620,875, showcasing a square footage of 3,636, which translates to a price per square foot of $2,370.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $8,620,875
- Address: 2655 South Bayshore Drive Unit 1702-06
- Market: Coconut Grove
- Square Footage: 3,636
- Price Per Square Foot: $2,370
- Buyer's Representative: Rick Teed - The Agency
Rick Teed represented the buyer in this notable sale, which marked a significant transaction in Miami-Dade's weekly closings. Teed's involvement was crucial in facilitating the success of this deal within the competitive real estate market.
Players
Miami 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
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93