Jennifer Lopez & Ben Affleck Lease Miami Beach Single Family Home From Paul Morelli
2700 North Bay Road, Miami Beach, FL, USA
Building Size
10,114 SF
Asset Type
Single Family Residence
Closing
May 27, 2021
AI
Jennifer Lopez and Ben Affleck have found a temporary residence in Miami Beach. They recently signed a lease for a single-family home in the area. The property, owned by Paul Morelli, offers a spacious living space with a square footage of approximately 10,114. The monthly rent for this luxurious accommodation is $130,000.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: Leased for $130,000/month
The deal was facilitated by Julian Johnston of The Corcoran Group, who represented both Jennifer Lopez and Ben Affleck in this lease agreement. The Corcoran Group, a reputed agency, played a vital role in ensuring a smooth transaction between the tenants and landlord.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93