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
About this deal
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.
On the Map
$5,000,000
$1,265/SF
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Players
Key Biscayne CRE Market Snapshot
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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