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
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