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100 South Pointe Drive, Mia...

Steve Patterson Of Related Group Acquires South Beach Condo For $10M
SOLDCondo

Steve Patterson Of Related Group Acquires South Beach Condo For $10M

100 South Pointe Drive, Miami Beach, Florida 33139, United States

$10,000,000

$3,581/SF

Building Size

2,792 SF

Asset Type

Condo

Closing

Mar 23, 2022

AI

A luxury condominium located at 100 South Pointe Drive Unit 1201/1202 in South Beach has recently been sold. The condo, spanning 2,792 square feet, was purchased for a total of $10,000,000 at a price per square foot of $3,582. This property offers a stunning view of the surrounding area and boasts a prime location in the South Beach market.

Summary of transaction details:

  • Property Type: Condo
  • Sale Price: $10,000,000
  • Square Footage: 2,792
  • Price per Square Foot: $3,582
  • Address: 100 South Pointe Drive Unit 1201/1202
  • Market: South Beach

The buyer of this upscale condo is Steve Patterson, representing the Related Group. On the other hand, the sellers of the property are Jill Herzog and Jeff Herzog from ZOG Digital. Jeri Jenkins, an agent from Coldwell Banker, acted as the buyer's representative in this transaction. The seller's representation was provided by Eddy Martinez and Roland Oritz from One Sotheby’s International Realty.

Players

Eddy Martinez

Sotheby's International Realty

Broker

$192.8M

vol

14 deals

Broker
Related Group
Related GroupBuyer

Jill Herzog

ZOG Digital

Seller

$41.9M

vol

3 deals

Seller

Miami Beach Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93