Michael & Martha Davidson Acquire Sunny Isles Beach Penthouse For $6.5M
16051 Collins Ave, Sunny Isles Beach, FL 33160, USA
$6,500,000
$1,140/SF
Building Size
5,700 SF
Asset Type
Other
Closing
Aug 16, 2020
About this deal
AI
A penthouse located at 16051 Collins Avenue in Sunny Isles Beach was sold in a closed transaction. The property spans over 5,700 square feet and was sold for a price of $6,500,000, resulting in a price per square foot of $1,140.
Summary of transaction details
- Property Type: Penthouse
- Transaction Amount: $6,500,000
- Address: 16051 Collins Avenue
- Market: Sunny Isles Beach
In this deal, the seller, Ben Nehmadi, represented Republic Investment Company. The buyer, Michael and Martha Davidson, enlisted the services of Adam Gurewicz from Compass as their representative. The listing agents for the transaction were Joseph Zichelle and Melissa Barragan.
Players
Sunny Isles Beach Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93