Eagle Seven Trading Acquires Miami Beach Condo For $11.65M
SOLD
$11,650,000
Florida
See Similar DealsCondo4,154 SF
Sold 05/28/2021
SOLD
Eagle Seven Trading Acquires Miami Beach Condo For $11.65M
800 South Pointe Drive, Miami Beach, FL, USA
See Similar DealsCondo4,154 SF
Sold 05/28/2021
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,804
Total Square Footage:4,154 SF
Transaction Type:Sale
A 4,154-square-foot condo located at 800 South Pointe Drive Unit 804 in Miami Beach has been sold for a total price of $11,650,000. The property, characterized by its spacious layout and prime location, was purchased by Chris Lorenzen, representing Eagle Seven Trading. The seller, Richard W. Gray III, was represented by DJR Advisors.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $11,650,000
- Address: 800 South Pointe Drive Unit 804, Miami Beach
- Market: Miami Beach
- Buyer: Chris Lorenzen - Eagle Seven Trading
- Seller: Richard W. Gray III - DJR Advisors
Scott Betten from Income Real Estate served as the buyer's representative in this transaction, while Kathy Green from Coldwell Banker Realty represented the seller. With a price per square foot of $2,805, this sale highlights the robust real estate market in Miami Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$621,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,390.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,226.94
Annual Debt Service$662,723.32
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