Ivan And Mike Team Sell South Beach Penthouse At Marea Condominium For $5.5M
801 South Pointe Dr, Miami Beach, FL, USA
$5,500,000
$867/SF
Building Size
6,339 SF
Asset Type
—
Closing
Mar 3, 2021
About this deal
AI
The Ivan and Mike Team, represented by Michael Martirena and Ivan Chorney of Ivan & Mike Team nlymiamiluxury, recently closed the sale of a stunning penthouse in Miami Beach. This exclusive penthouse is one of only four in the Marea Condominium, a boutique building with a total of 30 residences. The property, located at 801 S Pointe Dr PH-1, offers modern touches throughout and boasts spacious interiors with 10' ceiling height and floor-to-ceiling glass. Designed by Yabu Pushelburg, the lavish master bathrooms add a touch of luxury, while the Italian kitchen cabinetry by Italkraft, SubZero & Wolf appliances, and private roof terrace further enhance the living experience.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $5,500,000
- Address: 801 S Pointe Dr PH-1, Miami Beach
- Market: Miami Beach
The buyers of this penthouse not only gained access to an exquisite residence but also became part of South Beach's most exclusive residential enclave. The Marea Condominium offers sophisticated services and amenities, including VIP access to a nearby private beach club with cabanas, lounges, towel service, and beach butlers. With over 3,000 SF of private roof terrace space and two self-parking spaces at ground level, the penthouse provides ample room for entertainment and convenience.
Whether you're looking to buy or sell a home, reach out to the Ivan and Mike Team today for unparalleled real estate services.
Players
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Deal FAQ
About $867 per square foot on a published $5.5M for 6,339 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93