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1331 Brickell Bay Drive, Mi...

Douglas Elliman Represents Buyer In $2.78M Miami Condo Sale
SOLDHotel

Douglas Elliman Represents Buyer In $2.78M Miami Condo Sale

1331 Brickell Bay Drive, Miami, FL 33131 & 1331 Brickell Bay Drive, Miami, FL 33131

$2,780,000

$501/SF

Building Size

5,545 SF

Asset Type

Hotel

Closing

Mar 28, 2021

AI

Located at 1331 Brickell Bay Drive, Unit 3611 in Miami, this condominium in the Jade Residence at Brickell Bay was recently sold. The property spans 3,415 square feet and boasts a spacious layout. The sale price for this condo was $2,780,000, resulting in a price per square foot of $814. The transaction took place on March 29, 2021.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $2,780,000
  • Address: 1331 Brickell Bay Drive, Unit 3611
  • Market: Miami

The buyer was represented by Margarita Sanclemente and Juan Jose Velasquez from Douglas Elliman, while the seller was represented by Sebastian Acosta from One Sotheby's International Realty. These professional agents played a crucial role in facilitating the transaction and ensuring a smooth process for both parties involved.

Players

Margarita Sanclemente

Douglas Elliman

Broker

$42.9M

vol

6 deals

Broker

Miami Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.71%

Cash-on-Cash

-1.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93