The Corcoran Group Acquires Condo At 321 Ocean Miami Beach For $5.375M
SOLD
Florida
See Similar Deals2,530 SF
Sold 06/07/2020
SOLD
The Corcoran Group Acquires Condo At 321 Ocean Miami Beach For $5.375M
321 Ocean Court, Miami Beach, FL 33139
See Similar Deals2,530 SF
Sold 06/07/2020
Summary
FLORIDA
Price Per Square Foot:$2,124
Total Square Footage:2,530 SF
Transaction Type:Sale
The property involved in the transaction is a condo located at 321 Ocean in Miami Beach. It was sold on June 7, 2021.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $5,375,000
- Address: 321 Ocean, Miami Beach
- Square Footage: 2,530 sqft
- Price per Square Foot: $2,125
The buyer's representative in this deal is Mick Duchon from The Corcoran Group. The seller's representative is Adam Redolfi from Barnes International Realty.
It's important to note that the asking price for the property was $5,450,000, but it was eventually sold for $5,375,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$286,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,096.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,480.24
Annual Debt Service$305,762.91
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