Juan Zuluaga & John Naranjo Broker $9.6M Key Biscayne Condo Sale
360 Ocean Drive
$9,600,000
$2,532/SF
Building Size
3,791 SF
Asset Type
Condo
Closing
Apr 26, 2024
AI
Unit 601S at 360 Ocean Drive in Key Biscayne was sold for $9.6 million, representing a price per square foot of $2,532. This condo features two bedrooms, a third room with an en suite bathroom, three full baths, a powder room, a kitchen with high-end appliances, a spacious living room, and a large balcony. Oceana, renowned for its resort-style amenities and oceanfront location, offers beach service, a pool with cabana, and luxurious living spaces.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $9,600,000
- Address: 360 Ocean Drive Unit 601S
- Market: Key Biscayne
- Square Footage: 3,791
John Naranjo from Fortune Christie's International Real Estate served as the buyer's representative in the deal, while Juan Zuluaga from Coldwell Banker represented the seller. The property, initially listed at $2,999,999 in March, showcases luxury living spaces and resort-style amenities, making it an attractive investment in the Key Biscayne market.
Players
Key Biscayne 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93