Samuel Susi Acquires Residential Condo In South Beach For $6.75M
SOLD
$6,750,000
Florida
See Similar Deals33,890 SF
Sold 06/01/2020
SOLD
Samuel Susi Acquires Residential Condo In South Beach For $6.75M
120 Ocean Dr, Miami Beach, FL 33139, USA
See Similar Deals33,890 SF
Sold 06/01/2020
Summary
FLORIDA
Price Per Square Foot:$199
Total Square Footage:33,890 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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