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300 South Pointe Drive, Mia...

The Cibrano Family Acquires South Beach Condo On South Pointe Drive For $2.45M
SOLD

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.

Players

Alan Gabay

Douglas Elliman

Broker

$10.5M

vol

2 deals

Broker

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