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2700 North Bay Road, Miami ...

Jennifer Lopez & Ben Affleck Lease Miami Beach Single Family Home From Paul Morelli
LEASEDSingle Family Residence

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

Julian Johnston

The Corcoran Group

Broker

$777.3M

vol

55 deals

Broker
Paul Morelli

Paul Morelli

Landlord

$72.2M

vol

5 deals

Landlord

Ben Affleck

Tenant

$179.3M

vol

6 deals

Tenant

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