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125 Ocean Drive, Miami Beac...

ONE Sotheby's International Realty Acquires Condo On 125 Ocean Dr, Miami Beach For $10.5M
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

$12,000,000

$1,923/SF

Building Size

6,240 SF

Asset Type

Closing

Jan 9, 2022

AI

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

Chad Carroll

Compass

Broker

$1.7B

vol

85 deals

Broker
Fortune International Realty
Fortune International RealtyBrokerage

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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93