Updated Sep 9, 2024
Marc Jacobovitz Acquires SFR On Pine Tree Drive In Miami Beach For $2.75M
5956 Pine Tree Drive, Miami Beach, Florida 33140, United States
$2,750,000
$343/SF
Building Size
8,000 SF
Asset Type
Development Site
Closing
Feb 7, 2022
About this deal
AI
Located in Miami Beach, the property at 5956 Pine Tree Drive has been sold in a recent transaction. The single-family residential property, spanning approximately 16,035 square feet, was sold for a price of $2,750,000. This results in a price per square foot of $171, showcasing an attractive investment opportunity in the market. The transaction took place on February 8, 2022.
Summary of transation details
- Property Type: SFR
- Transaction Amount: $2,750,000
- Address: 5956 Pine Tree Drive, Miami Beach
The buyer of the property is Marc Jacobovitz, who was represented by Menachem Fellig from Compass. On the other hand, Cynthia Goodman, the seller, was represented by Adam Ziefer and Amber Berger from The Corcoran Group. These individuals played crucial roles in facilitating the successful completion of the transaction, ensuring the interests of their respective clients were met.
Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
About $343 per square foot on a published $2.8M for 8,000 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93