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360 Ocean Drive

Juan Zuluaga & John Naranjo Broker $9.6M Key Biscayne Condo Sale
SOLDCondo

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

Juan Zuluaga

Coldwell Banker

Broker

$48.2M

vol

6 deals

Broker

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