Mike Garuti Purchases Miami Condos From Paulette Rivoir For $2.5 Million With Alessandro Saponaro As Seller's Rep
460 Northeast 28th Street, 460 Northeast 28th Street & 2900 Northeast 7th Avenue
$2,500,000
$724/SF
Building Size
1,100 SF
Asset Type
Condo
Closing
Oct 16, 2026
About this deal
AI
460 Northeast 28th Street Unit 2707 & 2106 and 2900 Northeast 7th Avenue Unit 1603 are condominium units located in the Miami market. The sale price for these properties totaled $2,500,000, encompassing a combined square footage of 3,450, which translates to a price per square foot of $725.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,500,000
- Buyer: Mike Garuti
- Seller: Paulette Rivoir
- Seller's Representative: Alessandro Saponaro - AFS Living
- Market: Miami
- Square Footage: 3,450
- Price per Square Foot: $725
The transaction was facilitated by Alessandro Saponaro of AFS Living, who represents the seller in the deal. Notably, three condominium sales were completed in a single month, all structured as all-cash transactions, showcasing an active involvement of qualified buyers in Miami's real estate market.
On the Map
$2,500,000
$724/SF
Condo
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Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $724 per square foot on a published $2.5M for 3,450 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93