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5941 Pine Tree Dr

Scott Huizenga Acquires Miami Beach SFR From Redmayne Property For $7.5M
SOLD

Scott Huizenga Acquires Miami Beach SFR From Redmayne Property For $7.5M

5941 Pine Tree Dr

Building Size

Asset Type

Closing

Sep 15, 2022

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.

Players

Scott Huizenga

Buyer

$7.5M

vol

2 deals

Buyer
RP
Redmayne PropertySeller

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