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2655 South Bayshore Drive

Rick Teed Of The Agency Represents Buyer In $8.62M Sale Of Condo At Mr. C Residences
SOLDCondo

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

Rick Teed

The Agency

Broker

$76M

vol

6 deals

Broker

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