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Sunny Isles Beach, FL, USA

Richard & Laurie Stark Of Chrome Hearts Acquire Sunny Isles Beach Condo From Beach Club Acquisition LLC
SOLD

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

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.

Players

Melissa Barragan

Dezer Platinum Realty

Broker

$172.7M

vol

21 deals

Broker

Laurie Stark

Chrome Hearts

Buyer

$67.5M

vol

4 deals

Buyer
BL
Beach Club Acquisition LLCSeller

Sunny Isles 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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93