Michael Huffington Acquires Condo On 8701 Collins Avenue, Miami Beach For $7.5M
8701 Collins Ave #1601, Surfside, Fl 33154, Usa
$7,500,000
$1,339/SF
Building Size
5,600 SF
Asset Type
—
Closing
Sep 13, 2020
About this deal
AI
Michael Huffington has purchased a condo located at 8701 Collins Avenue Unit Miami Beach. The property, sold by an undisclosed seller, was listed for a total price of $7,500,000. The condo spans 5,600 square feet and was sold on September 14, 2020. With a price per square foot of $1,339, this transaction showcases the high-value property in Miami Beach.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $7,500,000
- Square Footage: 5,600
- Price Per Square Foot: $1,339
- Date of Transaction: September 14, 2020
The deal was facilitated by Douglas Elliman, who served as the brokers for this transaction. Their expertise and representation played a vital role in ensuring a successful sale for both the buyer, Michael Huffington, and the undisclosed seller. The purchase of this high-value condo demonstrates the strong real estate market in Miami Beach, attracting notable buyers like Michael Huffington.
Players
Surfside CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $7.5M for 5,600 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93