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1300 Monad Terrace, Miami B...

Alison Wander Acquires Miami Beach Condo For $8M From Seller Michael Stern
SOLDMultiFamily

Alison Wander Acquires Miami Beach Condo For $8M From Seller Michael Stern

1300 Monad Terrace, Miami Beach, FL, USA

$8,000,000

$1,495/SF

Building Size

5,350 SF

Asset Type

MultiFamily

Closing

Mar 30, 2021

AI

The property involved in this closed transaction is a 5,350 square foot condo located at 1300 Monad Terrace Unit PHB in Miami Beach. The sale price for this condo was $8,000,000, resulting in a price per square foot of $1,495.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $8,000,000
  • Address: 1300 Monad Terrace Unit PHB, Miami Beach
  • Market: Miami Beach

The buyer in this transaction was Alison Wander and Joshua Wander, represented by 777 Partners. The seller was Michael Stern from JDS Development Group. The deal was facilitated by the broker Douglas Elliman.

Players

7P
777 PartnersBuyer

Michael Stern

JDS Development Group

Seller

$1.8B

vol

19 deals

Seller

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93