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

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SOLD
$2,925,000

Florida

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3,120 SF
Sold 11/17/2021
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Property Image
SOLD

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

881 Ocean Drive, Key Biscayne, FL, USA

See Similar Deals
3,120 SF
Sold 11/17/2021
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Summary

FLORIDA
Price Per Square Foot:$937
Total Square Footage:3,120 SF
Transaction Type:Sale

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
2 deals$4.3M volume
BROKER

Details

SOLD
IMAGE: Jacqueline M. Cabrera DATE: 11/17/2021 ADDRESS: 881 Ocean Drive Unit 13H MARKET: Key Biscayne ASSET TYPE: Condo BUYER: Felix Sabates, Sr. & Carmen Sabates SELLER: Beatriz Olivera BUYER'S REP & SELLER'S REP: Jacqueline M. Cabrera (@JacquelineCabrera.Realtor) - One Sotheby's International Realty ASKING PRICE: $2,950,000 SALE PRICE: $2,925,000 SF: 3,120 (adj.) ~ PPSF: $938 NOTE: Represented both Buyer and Seller in this "record breaking - off market" transaction. Highest sale for a three (3) bedroom unit in Casa Del Mar! Coveted and rarely available "H" Line. This spacious corner unit features the most spectacular and unobstructed views of the Atlantic Ocean, Downtown Miami, and Key Biscayne beach. Large balconies allow you to start your day with awakening sunrises and finish with breathtaking sunsets. The 3/3 unit offers plenty of room to live with ample space that makes it feel like a true home. Congratulations to both of my clients! We had an excellent transaction process and very smooth closing.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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