Compass Represents Dana M. Locniskar & Christine Beck In $5M Key Biscayne Condo Sale
SOLD
$5,000,000
Florida
See Similar Deals3,950 SF
Sold 06/03/2021
SOLD
Compass Represents Dana M. Locniskar & Christine Beck In $5M Key Biscayne Condo Sale
430 Grand Bay Drive, Key Biscayne, FL, USA
See Similar Deals3,950 SF
Sold 06/03/2021
Summary
FLORIDA
Price Per Square Foot:$1,265
Total Square Footage:3,950 SF
Transaction Type:Sale
An oceanfront condo located at 430 Grand Bay Drive Unit 1101 in Key Biscayne has been sold for $5,000,000. The property spans across 3,950 square feet and was sold at a price per square foot of $1,266. The transaction took place on June 3, 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $5,000,000
- Address: 430 Grand Bay Drive Unit 1101, Key Biscayne
- Market: Key Biscayne
The buyers of the property are Dana M. Locniskar and Christine Beck. They were represented by Compass. The sellers of the property are Jean Schottenstein and Jay L. Schottenstein, who is associated with American Eagle Outfitters. Veronica Cervera from Cervera Real Estate represented the sellers in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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