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185 Solano Prado

Katelyn Warshaw And Paul Warshaw Buy Waterfront Land In Coral Gables For $18.15M
SOLDLand

Katelyn Warshaw And Paul Warshaw Buy Waterfront Land In Coral Gables For $18.15M

185 Solano Prado

$18,150,000

Building Size

Asset Type

Land

Closing

Nov 13, 2024

AI

The transaction involves a vacant waterfront lot located at 185 Solano Prado in Coral Gables. The property spans 35,200 square feet and was sold for $18,150,000, placing the price per square foot at approximately $516. The lot is notable for its prime real estate location, often referred to as "the Beverly Hills of Miami."

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $18,150,000
  • Address: 185 Solano Prado
  • Market: Coral Gables
  • Lot Size: 35,200 SF
  • Price Per sq. ft.: $516
  • Buyer: Katelyn Warshaw & Paul Warshaw
  • Seller: Danile Wall - affiliated with Sashimi Properties LLC
  • Buyer's Representative: Shana Willinsky Molina - 44 Real Estate Group
  • Seller's Representative: Antonio Merkarek - Fortune Christie’s International Real Estate

Paul and Katelyn Warshaw acquired the property from Danile Wall, who is affiliated with Sashimi Properties LLC. The transaction was facilitated by representatives Shana Willinsky Molina and Antonio Merkarek, denoting the involvement of distinct real estate agencies in this high-value deal. The property had been sold previously for $16 million in 2022, further highlighting the increasing demand for upscale land in the area.

Players

Antonio Merkarek

@Properties Christie's International Real Estate

Broker

$18.2M

vol

1 deal

Broker

Coral Gables Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.87%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93