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430 Grand Bay Drive, Key Bi...

Compass Represents Dana M. Locniskar & Christine Beck In $5M Key Biscayne Condo Sale
SOLD

Compass Represents Dana M. Locniskar & Christine Beck In $5M Key Biscayne Condo Sale

430 Grand Bay Drive, Key Biscayne, FL, USA

$5,000,000

$1,265/SF

Building Size

3,950 SF

Asset Type

Closing

Jun 2, 2021

AI

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.

Players

Veronica Cervera Goeseke

Cervera Real Estate

Broker

$24.8M

vol

2 deals

Broker
AO
American Eagle OutfittersSeller
Jay L. Schottenstein

Jay L. Schottenstein

American Eagle Outfitters

Seller

$5M

vol

3 deals

Seller

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

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93