Compass Acquires Key Biscayne Condo For $2.88M
360 Ocean Drive, Key Biscayne, FL, USA
$2,880,000
$1,664/SF
Building Size
1,730 SF
Asset Type
—
Closing
Nov 16, 2020
About this deal
AI
A penthouse condo unit located at 360 Ocean Drive LPH 5S in Key Biscayne has been sold for $2,880,000. The transaction took place on November 17, 2020. The property has a total area of 1,730 square feet, resulting in a price per square foot of $1,665. The asking price for the condo was $2,990,000. The sale was represented by Mauricio J. Barba from Compass. The buyer's representative in this deal was Mauricio J. Barba himself.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $2,880,000
- Address: 360 Ocean Drive LPH 5S
- Market: Key Biscayne
- Square Footage: 1,730
- Price per Square Foot: $1,665
- Asking Price: $2,990,000
Mauricio J. Barba from Compass was the buyer's representative in this transaction. He successfully facilitated the sale of the penthouse condo. Mauricio J. Barba's expertise in the Key Biscayne market played a significant role in securing the deal at a favorable price.
Players
Key Biscayne 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
5.51%
Cash-on-Cash
-1.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93