Jeffrey Crippen Acquires Condo In Miami Beach For $7.4M - Brokers Eddy Martinez & Roland Ortiz
SOLD
$7,400,000
Florida
See Similar DealsCondo4,510 SF
Sold 04/03/2023
SOLD
Jeffrey Crippen Acquires Condo In Miami Beach For $7.4M - Brokers Eddy Martinez & Roland Ortiz
300 S Pointe Dr #3801, Miami Beach, FL 33139
See Similar DealsCondo4,510 SF
Sold 04/03/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,640
Total Square Footage:4,510 SF
Transaction Type:Sale
The condo located at 300 South Pointe Drive in Miami Beach has been sold in a recent transaction. The property, spanning 4,510 square feet, was sold for a total price of $7,400,000. This amounts to a price per square foot of $1,641.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $7,400,000
- Address: 300 South Pointe Drive, Miami Beach
- Buyer: Jeffrey Crippen
- Seller: Steven Lempera
- Brokers: Eddy Martinez & Roland Ortiz - Sotheby's International Realty
- Square Footage: 4,510
- Price per Square Foot: $1,641
Represented by Eddy Martinez and Roland Ortiz from Sotheby's International Realty, the deal involved Jeffrey Crippen as the buyer and Steven Lempera as the seller. The condo's location in Miami Beach and its spacious square footage likely contributed to its attractiveness to the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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