Melep International Ltd Acquires SFR In Miami Beach For $40M
22 Indian Creek Island Road, Indian Creek Village, Florida 33154, United States
$40,000,000
$4,693/SF
Building Size
8,522 SF
Asset Type
—
Closing
Dec 30, 2021
About this deal
AI
The property at 22 Indian Creek Island Rd in Miami Beach was sold on 12/31/2021. This single-family residential (SFR) property spans 8,522 square feet and was sold for a total price of $40,000,000, resulting in a price per square foot of $4,693.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $40,000,000
- Square Footage: 8,522
- Price per Square Foot: $4,693
- Address: 22 Indian Creek Island Rd, Miami Beach
The buyer of the property was Melep International Ltd, while the seller was Francois M Chateau & Gordon J Weiss.
Players
Indian Creek Village CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $4.7K per square foot on a published $40M for 8,522 square feet (2021).
Browse Florida sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93