Richard & Laurie Stark Of Chrome Hearts Acquire Sunny Isles Beach Condo From Beach Club Acquisition LLC
Sunny Isles Beach, FL, USA
$6,500,000
$2,076/SF
Building Size
3,130 SF
Asset Type
—
Closing
May 4, 2021
About this deal
AI
Located in Sunny Isles Beach, this recently sold condo is an impressive property. The transaction took place on May 5, 2021, with a sale price of $6,500,000. The condo spans approximately 3,130 square feet, resulting in a price per square foot of $2,077. The buyer, Richard and Laurie Stark of Chrome Hearts, acquired the property from the seller, Beach Club Acquisition LLC.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $6,500,000
- Market: Sunny Isles Beach
- Square Footage: 3,130
- Price per Square Foot: $2,077
Facilitating the deal was broker Melissa Barragan from Dezer Platinum Realty LLC, representing Richard and Laurie Stark. Melissa Barragan played a crucial role in ensuring a successful transaction between the buyer and seller.
On the Map
$6,500,000
$2,076/SF
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Sunny Isles Beach CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93