ONE Sotheby's International Realty Acquires Condo On 125 Ocean Dr, Miami Beach For $10.5M
SOLD
$12,000,000
+ 3
Florida
See Similar Deals6,240 SF
Sold 01/10/2022
SOLD
ONE Sotheby's International Realty Acquires Condo On 125 Ocean Dr, Miami Beach For $10.5M
125 Ocean Drive, Miami Beach, Florida 33139, United States
See Similar Deals6,240 SF
Sold 01/10/2022
+ 3
Summary
FLORIDA
Price Per Square Foot:$1,923
Total Square Footage:6,240 SF
Transaction Type:Sale
An oceanfront condo located at 125 Ocean Dr in Miami Beach has recently been sold for $10,500,000. The property spans 4,068 square feet and is priced at approximately $2,581 per square foot.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $10,500,000
- Address: 125 Ocean Dr, Miami Beach
- Square Footage: 4,068
- Price per Square Foot: $2,581
The buyer's representatives in this deal were Reid Heidenry and Marko Gojanovic from ONE Sotheby's International Realty. On the other hand, the seller was represented by Oren Alexander and Isaac Lustgarten from The Alexander Team.
Players
BROKERAGE
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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