Updated Oct 29, 2024
Ira & Paula Resnick Acquire SFR In Miami Beach For $8.15M From Seller Michael & Diane Owade
1410 South Biscayne Point Road, Miami Beach, FL, USA
$8,150,000
$1,514/SF
Building Size
5,383 SF
Asset Type
Single Family Residence
Closing
Feb 1, 2021
About this deal
AI
A single-family home located at 1410 South Biscayne Point in Miami Beach has been sold in a record-breaking transaction. The property boasts 5,383 square feet of living space and is situated in the sought-after neighborhood of Miami Beach. The sale price for this stunning home was $8,150,000, setting a new record for the area.
Summary of transation details
- Property Type: SFR
- Transaction Amount: $8,150,000
- Address: 1410 South Biscayne Point
- Market: Miami Beach
- Asking Price: $7,775,000
- Square Footage: 5,383
- Price per Square Foot: $1,514
The buyers in this transaction were Ira and Paula Resnick, who were represented by Alexander Goldstein, the Broker/Owner of Miles Goldstein Real Estate. The sellers were Michael and Diane Owade of Owade Development. The sale of this property marks a significant milestone for the neighborhood, with the record-breaking price reflecting the desirability and value of the Miami Beach area.
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
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93