Updated Jan 30, 2025
David Burstyn Of Winston Capital Management Purchases Miami Beach Condo At 8701 Collins Avenue For $31M
8701 Collins Avenue
$31,000,000
$5,284/SF
Building Size
5,866 SF
Asset Type
Single Family Residence
Closing
Jan 23, 2025
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93