David Burstyn Of Winston Capital Management Purchases Miami Beach Condo At 8701 Collins Avenue For $31M
SOLD
Florida
See Similar DealsSingle Family Residence5,866 SF
Sold 01/23/2025
SOLD
David Burstyn Of Winston Capital Management Purchases Miami Beach Condo At 8701 Collins Avenue For $31M
8701 Collins Avenue
See Similar DealsSingle Family Residence5,866 SF
Sold 01/23/2025
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$5,284
Total Square Footage:5,866 SF
Transaction Type:Sale
The property asset involved in the transaction is a condo located at 8701 Collins Avenue Unit 1702 in Miami Beach. The sale price was $31,000,000, and the condo has a total square footage of 5,866, resulting in a price per square foot of $5,284.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $31,000,000
- Square Footage: 5,866
- Price Per Square Foot: $5,284
- Buyer: David Burstyn - Winston Capital Management
- Broker: Dina Goldentayer - Douglas Elliman
- Date of Transaction: 01/23/2025
- Address: 8701 Collins Avenue Unit 1702, Miami Beach
David Burstyn represented Winston Capital Management in the purchase of the property. The transaction was facilitated by broker Dina Goldentayer, who is affiliated with Douglas Elliman, handling the deal for the buyer's side.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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