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3501 Northeast 1st Avenue

Pierre Gasly Purchases Condo In Miami For $4.9M With Representation From Nicole Cardona And Hans Baumgartner
SOLDCondo

Pierre Gasly Purchases Condo In Miami For $4.9M With Representation From Nicole Cardona And Hans Baumgartner

3501 Northeast 1st Avenue

$4,900,000

$1,320/SF

Building Size

3,712 SF

Asset Type

Condo

Closing

Feb 4, 2026

AI

A condo located at 3501 Northeast 1st Avenue in Miami has been sold for $4,900,000. This unit spans 3,712 square feet and features a unique sky home layout within the Jean-Georges Miami Tropic Residences, which is a 49-story luxury condo tower developed by Terra and Lion Development Group. The four-bedroom unit includes a private elevator and terrace, catering to high-end residential living.

Summary of transaction details:

Pierre Gasly's purchase was facilitated by a team of experienced representatives, including Nicole Cardona from Douglas Elliman, who served as the in-house agent. Additionally, Hans Baumgartner from Miami Real Investment participated in representing the buyer, while Tara Ramos of P3PP3R Entertainment played a crucial role in the successful completion of this transaction. The condo project is noted for its Arquitectonica design and Yabu Pushelberg interiors, complemented by amenities curated by chef Jean-Georges across five floors.

Players

Hans Baumgartner

Miami Real Investment

Broker

$21.4M

vol

4 deals

Broker
Michael Simkins

Michael Simkins

Seller

$326.8M

vol

12 deals

Seller

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

3.24%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93