Jeffrey L. Gates And Richard Michael Moran Acquire Miami Beach Condo For $13.65M
800 South Pointe Drive, Miami Beach, FL
$13,650,000
$3,286/SF
Building Size
4,154 SF
Asset Type
Condo
Closing
Mar 22, 2021
AI
A condo located at 800 South Pointe Drive Unit 1501 in Miami Beach has been sold. The property spans 4,154 square feet and was sold for $13,650,000, resulting in a price per square foot of $3,286. The seller in this transaction was Ramiro Garza.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $13,650,000
- Square Footage: 4,154
- Price per Square Foot: $3,286
- Address: 800 South Pointe Drive Unit 1501
- Market: Miami Beach
The buyers of the condo are Jeffrey L. Gates from Gates Capital Management and Richard Michael Moran from Douglas Elliman. Representing the buyers in this transaction was Ethan Pickett from Douglas Elliman. On the seller's side, Ramiro Garza was represented by Dora Puig from Luxe Living Realty.
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
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93