AQR Capital Management Sells 6,800 SF Miami Beach Penthouse For $22M
321 Ocean Dr, Miami Beach, FL 33139, USA
$22,000,000
$3,235/SF
Building Size
6,800 SF
Asset Type
Other
Closing
Jul 30, 2020
About this deal
AI
A penthouse located at 321 Ocean Drive in Miami Beach has been sold in a closed transaction. The property was purchased for a price of $22,000,000. With a size of 6,800 square feet, the price per square foot for this penthouse is $3,235. The transaction took place on July 31, 2020.
Summary of transaction details
- Property Type: Penthouse
- Transaction Amount: $22,000,000
- Square Footage: 6,800
- Price per Square Foot: $3,235
- Address: 321 Ocean Drive, Miami Beach
- Market: Miami Beach
Clifford Asness, the seller, represented AQR Capital Management in the transaction. The seller's representatives were Eloy Carmenate and Mick Duchon from Douglas Elliman. Seth Feuer from Compass acted as the buyer's representative.
Players
Miami Beach Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93