Jordan Karp Of Jordan Karp LLC Represents Buyer In $12.4M Condo Sale In Miami Beach
125 Ocean Drive
$12,400,000
$3,330/SF
Building Size
3,723 SF
Asset Type
Condo
Closing
Jun 21, 2026
AI
The property involved in this transaction is a condo located at 125 Ocean Drive Unit 503 in the Miami Beach market. The sale price for the asset was $12,400,000, with a total square footage of 3,723, resulting in a price per square foot of $3,330.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $12,400,000
- Square Footage: 3,723
- Price per Square Foot: $3,330
- Address: 125 Ocean Drive Unit 503
- Market: Miami Beach
- Buyer's Representative: Jordan Karp - Jordan Karp LLC
- Seller's Representative: Michael Duchon - The Corcoran Group
Jordan Karp represented the buyer in this transaction, while Michael Duchon represented the seller. Both brokers played a crucial role in facilitating this deal within the competitive Miami Beach market.
Players
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
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93