Douglas Elliman Acquires South Of Fifth Condo In Miami Beach For $12.9M
50 South Pointe Dr, South of Fifth, Miami Beach, FL, USA
$12,900,000
$4,257/SF
Building Size
3,030 SF
Asset Type
—
Closing
Nov 2, 2021
About this deal
AI
A luxury condo located at 50 South Pointe Dr in the desirable South of Fifth neighborhood of Miami Beach has recently been sold for a staggering price of $12,900,000. Spanning across a total area of 3,030 square feet, this property offers a spacious and elegant living space. Its prime location in the South of Fifth market adds to its appeal, making it a highly sought-after asset in the real estate market.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $12,900,000
- Address: 50 South Pointe Dr
- Market: South of Fifth, Miami Beach
- Buyer's Representative: Adriana Pinto Torres & Tracy Ferrer - The APT Team - Douglas Elliman Florida, Douglas Elliman; Knight Frank
- Square Footage: 3,030
- Price per Square Foot: $4,257
The successful transaction was facilitated by the buyer's representative, Adriana Pinto Torres, and Tracy Ferrer. They represented the buyer during the negotiation process, ensuring a smooth and satisfactory deal. The APT Team, affiliated with Douglas Elliman Florida and Knight Frank, utilized their expertise in the real estate market to secure this prestigious property for their client.
Players
Miami Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $4.3K per square foot on a published $12.9M for 3,030 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93