Scott Klein Of Insignia International Properties Acquires Miami Beach Condo For $2.05M
400 South Pointe Drive, Miami Beach, FL 33139, USA
$2,050,000
$1,314/SF
Building Size
1,559 SF
Asset Type
—
Closing
Apr 19, 2021
AI
A condo located at 400 S Pointe Dr in Miami Beach was recently sold in a transaction brokered by Scott Klein of Insignia International Properties on behalf of the buyer and Alexander Morhaim and John Lennon of South Pointe Drive Realty representing the seller. The sale took place on April 20, 2021, with a sale price of $2,050,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,050,000
- Asking Price: $2,185,000
- Square Footage: 1,559
- Price Per Square Foot: $1,315
The property features 1,559 square feet of space and was sold at a price of $2,050,000, resulting in a price per square foot of $1,315. Scott Klein of Insignia International Properties represented the buyer in the transaction, while Alexander Morhaim and John Lennon of South Pointe Drive Realty acted as the seller's representatives.
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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93