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120 Ocean Dr, Miami Beach, ...

Samuel Susi Acquires Residential Condo In South Beach For $6.75M
SOLD

Samuel Susi Acquires Residential Condo In South Beach For $6.75M

120 Ocean Dr, Miami Beach, FL 33139, USA

$6,750,000

$199/SF

Building Size

33,890 SF

Asset Type

Closing

May 31, 2020

AI

A residential condo located at 120 Ocean Drive in South Beach has been sold in a closed transaction for $6,750,000. The property spans 3,389 square feet, resulting in a price per square foot of $1,991.

Summary of transaction details

  • Property Type: Residential Condo
  • Transaction Amount: $6,750,000
  • Square Footage: 3,389
  • Price Per Square Foot: $1,991
  • Address: 120 Ocean Drive, South Beach

The buyer of the property is Samuel Susi. The seller, Majestic Steel Properties Inc, was represented by Todd Leebow, Dennis Leebow, and Matthew Leebow. The transaction was facilitated by brokers Ethan Pickett and Miltiadis Kastanis from Douglas Elliman.

Players

Ethan Pickett

Douglas Elliman

Broker

$22.8M

vol

3 deals

Broker

Miami Beach 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

2.35%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93