AQR Capital Management Sells 6,800 SF Miami Beach Penthouse For $22M
SOLD
$22,000,000
Florida
See Similar DealsOther6,800 SF
Sold 07/31/2020
SOLD
AQR Capital Management Sells 6,800 SF Miami Beach Penthouse For $22M
321 Ocean Dr, Miami Beach, FL 33139, USA
See Similar DealsOther6,800 SF
Sold 07/31/2020
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$3,235
Total Square Footage:6,800 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69
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