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881 Ocean Drive, Key Biscay...

Felix Sabates, Sr. & Carmen Sabates Acquire 3-Bedroom Condo In Key Biscayne For $2.9M
SOLD

Felix Sabates, Sr. & Carmen Sabates Acquire 3-Bedroom Condo In Key Biscayne For $2.9M

881 Ocean Drive, Key Biscayne, FL, USA

$2,925,000

$937/SF

Building Size

3,120 SF

Asset Type

Closing

Nov 17, 2021

AI

A record-breaking "off market" transaction has taken place in Key Biscayne's Casa Del Mar. The property involved is a spacious corner unit located at 881 Ocean Drive Unit 13H, a coveted and rarely available "H" Line. This three-bedroom condo offers stunning and unobstructed views of the Atlantic Ocean, Downtown Miami, and Key Biscayne beach. Spanning approximately 3,120 square feet (adj.), this unit provides ample living space and features large balconies to enjoy breathtaking sunrises and sunsets. The sale price for this exceptional property was $2,925,000, with an asking price of $2,950,000. This transaction marks the highest sale price for a three-bedroom unit in Casa Del Mar.

Summary of transation details

  • Property Type: Condo
  • Transaction Amount: $2,925,000
  • Address: 881 Ocean Drive Unit 13H
  • Market: Key Biscayne

Jacqueline M. Cabrera of One Sotheby's International Realty represented both the buyer and seller in this successful deal. Congratulations to both Felix Sabates, Sr. & Carmen Sabates who purchased the unit, and Beatriz Olivera, the seller. Cabrera ensured a smooth closing and facilitated an excellent transaction process for her clients.

Players

Jacqueline Cabrera

Sotheby's International Realty

Broker

$8.1M

vol

3 deals

Broker

Key Biscayne 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

5.42%

Cash-on-Cash

-1.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93