Updated Dec 19, 2023
Douglas Elliman Sells Miami Beach SFR On Lake Avenue For $12.2M
2569 Lake Avenue, Miami Beach, FL, USA
$12,200,000
$2,215/SF
Building Size
5,506 SF
Asset Type
MultiFamily
Closing
Nov 16, 2020
About this deal
AI
Located at 2569 Lake Avenue in Miami Beach, this single-family residential property was recently sold for a price of $12,200,000 on November 17, 2020. It spans across an area of 5,506 square feet, resulting in a price per square foot of $2,216. The property is situated in a desirable market, offering a valuable investment opportunity.
Summary of Transaction Details
- Property Type: SFR
- Transaction Amount: $12,200,000
- Market: Miami Beach
Douglas Elliman represented the buyers and sellers in this transaction, with Dina Goldentayer, Miltiadis Kastanis, and Bryan Sereny serving as the brokers involved. Their expertise and negotiation skills played a crucial role in facilitating the successful closure of this deal. With their assistance, the buyers were able to secure this prime investment property at a competitive price.
Players
Miami Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $2.2K per square foot on a published $12.2M for 5,506 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93