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Duncan Robinson Acquires $4...

Duncan Robinson Acquires $4.5M Condo At Villa Miami With Caroline Nava, Julian Calderin & Sari Libbin Of Douglas Elliman
SOLDCondo

Duncan Robinson Acquires $4.5M Condo At Villa Miami With Caroline Nava, Julian Calderin & Sari Libbin Of Douglas Elliman

$4,500,000

Building Size

Asset Type

Condo

Closing

Nov 28, 2023

AI

Miami Heat's Duncan Robinson has purchased a $4.5 million pre-construction condo at Villa Miami, the inaugural luxury tower developed by Major Food Group. The condo features 72 units, a helipad, and a private dock. Construction for the 58-story tower is set to begin in early 2024 and is expected to be completed by late 2026. The property will also offer amenities managed by MFG, including a waterfront restaurant.

Summary of transaction details

Duncan Robinson, a professional basketball player for the Miami Heat, enlisted the services of Caroline Nava, Julian Calderin, and Sari Libbin from Douglas Elliman as his brokers in this real estate transaction.

Players

Sari Libbin

Douglas Elliman

Broker

$13M

vol

3 deals

Broker
MH
Miami HeatBuyer

Market 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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93