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
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