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3355 Flamingo Drive

Ilonka Padeh Sells Miami Beach Single Family Home For $8.7 Million With David Pullman & George Burns As Brokers
SOLDMultiFamily

Ilonka Padeh Sells Miami Beach Single Family Home For $8.7 Million With David Pullman & George Burns As Brokers

3355 Flamingo Drive

$8,700,000

$350/SF

Building Size

24,830 SF

Asset Type

MultiFamily

Closing

Jul 22, 2024

AI

The property asset involved in this transaction is a single-family residence located at 3355 Flamingo Drive in Miami Beach. The sale price for the property was $8,700,000, encompassing a total square footage of 24,830, resulting in a price per square foot of $350.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $8,700,000
  • Address: 3355 Flamingo Drive
  • Market: Miami Beach
  • Square Footage: 24,830
  • Price per Square Foot: $350
  • Seller: Ilonka Padeh
  • Brokers: David Pullman - Sotheby's International Realty; George Burns - One Sotheby’s International Realty

Ilonka Padeh is the seller of the property, while David Pullman from Sotheby's International Realty and George Burns from One Sotheby’s International Realty acted as the brokers in this transaction, facilitating the deal between the involved parties.

Players

David Pullman

Sotheby's International Realty

Broker

$94.3M

vol

13 deals

Broker

Miami Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.82%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93