Paulo, Pietro & Bruno Bacchi Of Artefacto Acquire SFR In Miami Beach For $5.4M
290 South Coconut Lane
$5,400,000
$771/SF
Building Size
7,000 SF
Asset Type
Co-Op
Closing
Dec 7, 2022
AI
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.
Players
Miami Beach Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93