Olga Pelaez Sells Single Family Home In Miami Beach For $5.95M With Orlando Alpizar's Representation
SOLD
$5,950,000
Florida
See Similar DealsSingle Family Residence12,410 SF
Sold 02/20/2025
SOLD
Olga Pelaez Sells Single Family Home In Miami Beach For $5.95M With Orlando Alpizar's Representation
1031 North Shore Drive
See Similar DealsSingle Family Residence12,410 SF
Sold 02/20/2025
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$479
Total Square Footage:12,410 SF
Transaction Type:Sale
The asset involved in this transaction is a single-family home located at 1031 North Shore Drive in the Miami Beach market. The property spans 12,410 square feet and was sold for $5,950,000, resulting in a price per square foot of $479.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $5,950,000
- Address: 1031 North Shore Drive
- Market: Miami Beach
- Square Footage: 12,410
- Price per Square Foot: $479
- Seller: Olga Pelaez - The Olga Pelaez Irrevocable Trust
- Buyer's Representative: Jim Agard - Vendome Capital
- Seller's Representative: Orlando Alpizar - Compass
This transaction involved key individuals including seller Olga Pelaez, represented by Orlando Alpizar from Compass, and buyer's representative Jim Agard from Vendome Capital. The successful closing of this sale took place on February 20, 2025.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$317,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,139.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,206.04
Annual Debt Service$338,472.43
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