Scott Huizenga Acquires Miami Beach SFR From Redmayne Property For $7.5M
5941 Pine Tree Dr
Building Size
—
Asset Type
—
Closing
Sep 15, 2022
About this deal
AI
The recently closed residential property transaction in Miami Beach has generated buzz in the real estate market. The property, located at 5941 Pine Tree Dr, is a spacious single-family home spanning 4,812 square feet. The sale price for this desirable asset was $7,500,000, translating to a price per square foot of $1,559.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $7,500,000
- Address: 5941 Pine Tree Dr
- Market: Miami Beach
Scott Huizenga, an astute buyer, acquired this impressive property. Representing Scott Huizenga as his broker in the deal was David Hunt Solomon from BHHS EWM Realty. On the other side of the transaction, Redmayne Property acted as the seller, with Ibrahim Guldiken serving as their representative.
On the Map
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93