17375 Collins Ave #1201, Sunny Isles Beach, FL 33160

A Sunny Isles Beach condominium bought for its view, and for its rental program.

The residence suited a specific investor profile: a buyer who wanted an oceanfront property for personal use, but also with access to a hotel rental program. Oleg Sergiienko represented the buyer of this two-bedroom, 1,470-square-foot unit on the ocean. It closed at $885,000. That figure was $74,000, or 7.7 percent, below the original asking price of $959,000, and came to roughly $602 per square foot. Unusually, the diligence began not with the property itself, but with the building’s rental program. The fees, rules, and terms were analyzed before an offer was written, because in hotel-style towers, the program economics can make identical floor plans worth very different amounts. Only after the numbers were vetted did negotiations begin. No income was projected or promised; program terms change. The buyer secured a verified financial structure at a price below the original ask.

The offer was written after the spreadsheet, not before it.