Updated Nov 15, 2023
Million And Up Realty Acquires Sunny Isles Beach Condo For $7M
16901 Collins Avenue Unit 4105
$7,000,000
$1,844/SF
Building Size
3,795 SF
Asset Type
Condo
Closing
Nov 1, 2022
About this deal
AI
A luxury condo in Sunny Isles Beach, located at 16901 Collins Avenue Unit 4105, has been sold for a whopping $7,000,000. Spanning across 3,795 square feet, this stunning property offers an enviable living space in one of Miami's most sought-after markets.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,000,000
- Market: Sunny Isles Beach
- Address: 16901 Collins Avenue Unit 4105
- Buyer's Representative: Luis Paredes - Million and Up Realty
- Seller's Representative: Marissa Everhart - Florida Realty of Miami
- SF: 3,795
- Price Per Square Foot: $1,845
The buyer, represented by Luis Paredes from Million and Up Realty, recognized the value and potential of this exquisite condo. On the other side, Marissa Everhart from Florida Realty of Miami skillfully showcased the property's unique features to capture the interest of potential buyers. Both representatives played a crucial role in negotiating and finalizing this significant transaction.
Players
Collins Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93