Chase Lenfest Trust Purchases Miami Beach Condo For $14.425M Through One Sotheby’s
50 South Pointe Drive, APT 3401
$14,425,000
$4,972/SF
Building Size
2,901 SF
Asset Type
Condo
Closing
May 30, 2024
AI
The property involved in this transaction is a condominium located at 50 South Pointe Drive Unit in Miami Beach. The sale price for this condo was $14,425,000, with an asking price of $15,900,000. Spanning 2,901 square feet, the price per square foot was $4,972. This sale set a new all-time record high for dollar per square foot at Continuum.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $14,425,000
- Buyer: Chase Lenfest - Chase Lenfest Trust
- Seller's Rep: Eddy Martinez & Roland Ortiz - One Sotheby’s International Realty
The seller's representatives in this deal were Eddy Martinez and Roland Ortiz from One Sotheby’s International Realty. The buyer, Chase Lenfest, represented the Chase Lenfest Trust in acquiring this property.
Players
Miami Beach 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
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93