Chase Lenfest Trust Acquires Condo In Miami Beach For $14.42M
SOLD
$14,425,000
Florida
See Similar DealsCondo2,901 SF
Sold 05/29/2024
SOLD
Chase Lenfest Trust Acquires Condo In Miami Beach For $14.42M
50 South Pointe Drive, APT 3401
See Similar DealsCondo2,901 SF
Sold 05/29/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$4,972
Total Square Footage:2,901 SF
Transaction Type:Sale
The condo located at 50 South Pointe Drive in Miami Beach was sold for a total price of $14,425,000. The property spans 2,901 square feet, resulting in a price per square foot of $4,972. The sale set a record for the highest dollar per square foot sale price at the CONTINUUM Miami Beach.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $14,425,000
- Address: 50 South Pointe Drive Miami Beach
- Square Footage: 2,901
- Buyer: Chase Lenfest - Chase Lenfest Trust
- Broker: Lisa Sanders - RelatedISG Realty
Lisa Sanders of RelatedISG Realty was the broker facilitating the sale, representing the buyer, Chase Lenfest of the Chase Lenfest Trust. Her expertise and negotiation skills played a crucial role in achieving the record-setting price per square foot for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$769,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,248.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,381.86
Annual Debt Service$820,582.31
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