The Cibrano Family Acquires South Beach Condo On South Pointe Drive For $2.45M
300 South Pointe Drive, Miami Beach, FL 33139, USA
$2,450,000
$1,221/SF
Building Size
2,005 SF
Asset Type
—
Closing
Oct 1, 2021
AI
The recent closed property transaction in South Beach involves a condominium located at 300 South Pointe Drive. The property, spanning 2,005 square feet, was sold by Maria Miller. The buyer, The Cibrano Family, secured the property for a sale price of $2,450,000, resulting in a price per square foot of $1,222. The transaction was facilitated by Alan Gabay of Douglas Elliman, representing the buyer, and Oiva Lloyd of South Pointe Drive Realty, representing the seller.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $2,450,000
- Address: 300 South Pointe Drive
- Market: South Beach
Alan Gabay from Douglas Elliman provided representation to The Cibrano Family in this deal, while Oiva Lloyd, associated with South Pointe Drive Realty, acted as the seller's representative.
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
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93