Steve Hafner Of Kayak Purchases Ocean House Penthouse From Marc Leder For $24M In Miami Beach
125 Ocean Drive
$24,000,000
$6,097/SF
Building Size
3,936 SF
Asset Type
Condo
Closing
Mar 14, 2025
AI
The property involved in the transaction is a condo located in Miami Beach. The asset spans an area of 3,936 square feet and was sold for $24,000,000, resulting in a price per square foot of $6,098.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $24,000,000
- Square Footage: 3,936
- Price Per Square Foot: $6,098
- Buyer: Steve Hafner - Kayak
- Seller: Marc Leder - Sun Capital Partners
- Buyer's Representative: Eloy Carmenate & Mick Duchon - The Corcoran Group
- Seller's Representative: Ginette Behar & Sarah Williams - Societe Real Estate
This transaction involved notable individuals in the real estate and business sectors, with Marc Leder, co-founder of Sun Capital Partners, selling the penthouse to Steve Hafner, the CEO of Kayak. The deal was facilitated by representatives from both The Corcoran Group and Societe Real Estate, marking a significant return on investment from Leder's earlier purchase in 2013.
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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93