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1370 S Venetian Way Miami B...

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

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

1370 S Venetian Way Miami Beach, FL 33139, USA

$21,000,000

$3,000/SF

Building Size

7,000 SF

Asset Type

Single Family Residence

Closing

May 26, 2023

AI

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

Luxe Living Realty

Broker

$1.4B

vol

86 deals

Broker
Pascal Nicolai

Pascal Nicolai

Sabal Development

Seller

$145.9M

vol

10 deals

Seller

Miami 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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93