Ocean Drive Clevelander Inc Acquires Condo In Miami Beach For $5.25M
1330 Ocean Drive
$5,250,000
$3,236/SF
Building Size
1,622 SF
Asset Type
Condo
Closing
May 5, 2023
About this deal
AI
The property involved in the transaction is a condo located at 1330 Ocean Drive in Miami Beach. The off-market sale was facilitated by Maria Corina Sosa from Compass. The transaction took place on May 5, 2023, and the property was sold by Scarlet Begonias to Ocean Drive Clevelander Inc, represented by Anthony J. Karpawich. The sale price for the condo was $5,250,000, with a total area of 3,080 square feet. The price per square foot was $1,705.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $5,250,000
- Address: 1330 Ocean Drive, Miami Beach
- Square Footage: 3,080
- Seller: Scarlet Begonias
- Buyer: Ocean Drive Clevelander Inc - Anthony J. Karpawich
- Broker: Maria Corina Sosa - Compass
Maria Corina Sosa played a key role in the transaction as the broker representing both the buyer and seller. The involvement of Compass indicates the trust placed in their expertise and network. This successful off-market sale highlights the value of having experienced professionals navigate the real estate market.
On the Map
$5,250,000
$3,236/SF
Condo
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Market Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93