San Marino Developments Two LLC Acquires SFR In Miami Beach For $5.9M
114 West San Marino Drive
$5,900,000
$2,404/SF
Building Size
2,454 SF
Asset Type
Single Family Residence
Closing
Nov 16, 2020
AI
A Single-Family Residence (SFR) located at 114 West San Marino Drive in Miami Beach has been sold for $5,900,000. The property was purchased by San Marino Developments Two LLC from Charles Sofge, who is associated with Island Queen Cruises & Tours. The transaction took place on November 17, 2020. The SFR is situated in the Miami Beach market.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $5,900,000
- Date: 11/17/2020
- Address: 114 West San Marino Drive, Miami Beach
- Buyer: San Marino Developments Two LLC
- Seller: Charles Sofge - Island Queen Cruises & Tours
- Buyer's Representative: Danny Hertzberg - The Jills Zeder Group - Coldwell Banker
- Seller's Representatives: Allan Kleer & Fabian Garcia-Diaz - One Sotheby’s International Realty
Danny Hertzberg represented the buyer, San Marino Developments Two LLC, in the transaction. Allan Kleer and Fabian Garcia-Diaz acted as representatives for the seller, Charles Sofge, who is associated with Island Queen Cruises & Tours.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93