Raul Morales Acquires Vacant Residential Property In Miami Beach For $7M
5101 Pine Tree Drive, Miami Beach, Florida 33140, United States
$7,005,100
$412,064/SF
Building Size
17 SF
Asset Type
Co-Op
Closing
Jan 8, 2023
About this deal
AI
The vacant residential property located at 5101 Pine Tree Dr in Miami Beach, FL has been sold in a transaction dated 01/09/2023. The property covers a total building square footage (BSF) of 17,625, with a price per square foot (PPSF) of $397. The buyer in this transaction is Raul Morales, while Richard Meruelo is the seller. The property was sold for a total price of $7,005,100.
Summary of transaction details
- Property Type: Vacant Residential
- Transaction Amount: $7,005,100
- Address: 5101 Pine Tree Dr, Miami Beach, FL
- Market: Miami Beach, FL
- Buyer: Raul Morales
- Seller: Richard Meruelo
- BSF: 17,625
- PPSF: $397
Raul Morales purchased the vacant residential property located at 5101 Pine Tree Dr in Miami Beach, FL from Richard Meruelo for a total price of $7,005,100. This transaction represents an opportunity for Morales to acquire a property in the sought-after Miami Beach market.
Players
Miami Beach Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Deal FAQ
About $412.1K per square foot on a published $7M for 17 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.26%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93