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377 Poinciana Island Dr

Timothy Derstein Acquires Sunny Isles Beach Condo For $1.275M With Tanya Tsveyer As Seller
SOLD

Timothy Derstein Acquires Sunny Isles Beach Condo For $1.275M With Tanya Tsveyer As Seller

377 Poinciana Island Dr

Building Size

Asset Type

Closing

Jul 22, 2022

AI

A condo located at 377 Poinciana Island Dr in Sunny Isles Beach has been sold for $1,275,000. The property spans 2,370 square feet, resulting in a price per square foot of $538.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $1,275,000
  • Address: 377 Poinciana Island Dr
  • Market: Sunny Isles Beach

The buyer in this transaction is Timothy Derstein, while the seller is Tanya Tsveyer. The deal was facilitated by Eric Smith of FIP Commercial Realty as the broker representing both parties.

Players

Timothy Derstein

Buyer

$1.3M

vol

2 deals

Buyer

Tanya Tsveyer

Seller

$1.3M

vol

2 deals

Seller

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93