Precious Achiuwa And Phil Handy Purchase Luxury Condos In Miami For $3,640,000
3501 Northwest 1st Avenue
$3,640,000
Building Size
—
Asset Type
Condo
Closing
Jun 16, 2026
AI
The transaction involves a condo located at 3501 Northwest 1st Avenue, Units 1509 & 1209 in Miami, FL, with a price of $3,640,000. The property is part of Jean-Georges Miami Tropic Residences, a 49-story luxury condominium project designed by Arquitectonica, featuring interiors by Yabu Pushelberg. The development focuses on wellness and hospitality amenities, offering extensive spa recovery facilities, fitness options, and multi-level dining and lifestyle spaces.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $3,640,000
- Buyer: Precious Achiuwa & Phil Handy
- Seller: David Martin - Terra; Michael Simkins - Lion Development Group
- Buyer’s Representative: Simon Mass & Justin D’Adamo - TCS Miami
- Seller’s Representative: Ann Nortmann - Douglas Elliman
- Date: 06/16/2026
NBA forward Precious Achiuwa and assistant coach Phil Handy acquired the units in a deal facilitated by their representatives Simon Mass and Justin D’Adamo from TCS Miami, while Ann Nortmann from Douglas Elliman represented the sellers, David Martin from Terra and Michael Simkins from Lion Development Group.
Players
Lexington Park 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
4.36%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93