Oceanfront Condo In Miami Beach Sells For $10.5M With Buyer's Rep Reid Heidenry & Marko Gojanovic And Seller's Rep Oren Alexander & Isaac Lustgarten
SOLD
$10,500,000
+ 1
Florida
See Similar DealsCondo4,068 SF
Sold 07/14/2022
SOLD
Oceanfront Condo In Miami Beach Sells For $10.5M With Buyer's Rep Reid Heidenry & Marko Gojanovic And Seller's Rep Oren Alexander & Isaac Lustgarten
125 Ocean Drive, Miami Beach, Florida 33139, United States
See Similar DealsCondo4,068 SF
Sold 07/14/2022
+ 1
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,581
Total Square Footage:4,068 SF
Transaction Type:Sale
A luxury condo located at 125 Ocean Dr in Miami Beach has been sold for $10,500,000. The property spans 4,068 square feet and has a price per square foot (PPSF) of $2,581. This stunning condo offers a unique opportunity for luxurious beachfront living.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $10,500,000
- Address: 125 Ocean Dr, Miami Beach
- Square Footage: 4,068
- Price Per Square Foot (PPSF): $2,581
The buyer was represented by Reid Heidenry and Marko Gojanovic from ONE Sotheby's International Realty. On the other hand, the seller was represented by Oren Alexander and Isaac Lustgarten from The Alexander Team. These experienced brokers played a crucial role in facilitating the successful transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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