Updated Oct 29, 2024
Barry Portnoy & Amy Borman Acquire SFR In Miami Beach For $2.31M
1205 N Biscayne Point Rd, Miami Beach, FL, USA
$2,310,000
$205/SF
Building Size
11,250 SF
Asset Type
Single Family Residence
Closing
Dec 9, 2020
About this deal
AI
The single-family residential property located at 1205 N Biscayne Point Rd in Miami Beach has been sold in a recent transaction. The property, with a size of 11,250 square feet, was sold for a price of $2,310,000. The sale took place on December 10, 2020.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $2,310,000
- Address: 1205 N Biscayne Point Rd, Miami Beach
- Market: Miami Beach
The seller of the property was Properties at hand LLC, while the buyers were Barry Portnoy and Amy Borman. The sale was facilitated by Markel Berto and Chad Carroll, who represented the seller. The property was listed with an asking price of $2,450,000, and it was sold for a slightly lower price of $2,310,000.
It is worth noting that the property attracted significant interest and received an offer within just 30 days of being listed, leading to it being placed under contract.
This transaction adds to the already impressive track record of The Carroll Group, who have achieved over $2 billion in overall sales.
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
6.87%
Cash-on-Cash
-1.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93