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
About this deal
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.
On the Map
$6,750,000
$199/SF
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Players
Miami Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $199 per square foot on a published $6.8M for 33,890 square feet (2020).
Visit Miltiadis Kastanis to view all their deals.
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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