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Sabal Development Sells Custom-Built Villa On Venetian Island For $21M

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SOLD
$21,000,000

Florida

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Single Family Residence7,000 SF
Sold 05/26/2023
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SOLD

Sabal Development Sells Custom-Built Villa On Venetian Island For $21M

1370 S Venetian Way Miami Beach, FL 33139, USA

See Similar Deals
Single Family Residence7,000 SF
Sold 05/26/2023
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$3,000
Total Square Footage:7,000 SF
Transaction Type:Sale

Sabal Development, represented by Pascal Nicolai of the Dora Puig Team at Luxe Living Realty, has sold a custom-built villa located at 1370 South Venetian Way in Miami Beach. The waterfront residence, redesigned to perfection, was sold for $21 million. The property boasts a rooftop deck, a negative-edge pool, and offers breathtaking views of the Miami skyline.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $21,000,000
  • Address: 1370 South Venetian Way, Miami Beach
  • Market: Miami Beach

Dora Puig, from The Dora Puig Team at Luxe Living Realty, managed the sale of this luxurious villa on behalf of Sabal Development. With a total square footage of 7,000, the property was sold at a price per square foot of $3,000. The lot size spans 10,500 square feet, resulting in a price per square foot of $2,000. This transaction highlights the expertise of the Dora Puig Team and their ability to secure a successful sale at a premium price.

Players

Dora Puig
86 deals$1.4B volume(305) 613-2118
BROKER

Pascal Nicolai
10 deals$145.9M volume
SELLER

Details

SOLD
IMAGE: Dora Puig & Pascal Nicolai DATE: 05/26/2023 ADDRESS: 1370 South Venetian Way MARKET: Miami Beach ASSET TYPE: Single Family SELLER: Sabal Development (@SabalDev) - Pascal Nicolai BROKER: Dora Puig (@DoraPuig) - The Dora Puig Team - Luxe Living Realty (@LuxeLivingMiami) SALE PRICE: $21,000,000 SF: 7,000 ~ PPSF: $3,000 LOT SF: 10,500 ~ PPLSF: $2,000 NOTE: Sabal Development has sold a custom-built villa on Venetian Island for $21 million. The redesigned waterfront residence features a rooftop deck, negative-edge pool, and breathtaking views of the Miami skyline.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56