Ian Bruce Eichner Sells Miami Beach Condo For $35 Million
SOLD
$35,000,000
Florida
See Similar DealsCondo11,031 SF
Sold 04/14/2021
SOLD
Ian Bruce Eichner Sells Miami Beach Condo For $35 Million
100 South Pointe Drive, Miami Beach, FL, USA
See Similar DealsCondo11,031 SF
Sold 04/14/2021
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$3,172
Total Square Footage:11,031 SF
Transaction Type:Sale
A luxury condo located at 100 South Pointe Drive Ph 2 in Miami Beach has been sold for a whopping $35,000,000. The property spans over 11,031 square feet, resulting in a price per square foot of $3,173. This prestigious asset was sold in a recent transaction, representing a significant deal in the Miami Beach market.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $35,000,000
- Address: 100 South Pointe Drive Ph 2
- Market: Miami Beach
- Square Footage: 11,031
- Price per Square Foot: $3,173
The seller of this remarkable condo was Ian Bruce Eichner, a representative of Continuum Company. The sale was facilitated by brokers Eloy Carmenate and Mick Duchon from The Corcoran Group. With their expertise and network, Carmenate and Duchon successfully negotiated this high-value transaction in the Miami Beach real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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