The Corcoran Group Acquires Condo At 321 Ocean Miami Beach For $5.375M
321 Ocean Court, Miami Beach, FL 33139
$5,375,000
$2,124/SF
Building Size
2,530 SF
Asset Type
—
Closing
Jun 7, 2020
About this deal
AI
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.
On the Map
$5,375,000
$2,124/SF
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Players
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
2.95%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93