Paulo, Pietro & Bruno Bacchi Of Artefacto Acquire SFR In Miami Beach For $5.4M
SOLD
$5,400,000
Florida
See Similar DealsCo-Op7,000 SF
Sold 12/07/2022
SOLD
Paulo, Pietro & Bruno Bacchi Of Artefacto Acquire SFR In Miami Beach For $5.4M
290 South Coconut Lane
See Similar DealsCo-Op7,000 SF
Sold 12/07/2022
Summary
FLORIDA
Asset Type:Co-Op
Price Per Square Foot:$771
Total Square Footage:7,000 SF
Transaction Type:Sale
The single-family residence located at 290 South Coconut Lane in Miami Beach has been sold. The property covers 7,000 square feet and was purchased for a total price of $5,400,000. The price per square foot amounts to $771.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $5,400,000
- Address: 290 South Coconut Lane, Miami Beach
- Market: Miami Beach
The buyers of the property were Paulo, Pietro, and Bruno Bacchi from Artefacto. They were represented by broker Monica Cohan from MC Miami Realty LLC. The sellers were 1FF, LLC.
It is important to note the involvement of Artefacto, a prominent name in the industry, in the purchase of this property. With its expertise in luxurious furniture and design, Artefacto is well-suited to make this investment.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
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