Updated Dec 4, 2024
Sam Logan Sells Single Family Home At 1485 Cleveland Road For $11 Million With Jordan Karp As Seller's Rep
1485 Cleveland Road
$11,000,000
$1,964/SF
Building Size
5,600 SF
Asset Type
Single Family Residence
Closing
Sep 23, 2024
About this deal
AI
The property asset involved in the transaction is located at 1485 Cleveland Road in the Miami Beach market. It is a single-family home featuring 5,600 square feet of living space. The sale was finalized at a price of $11,000,000, resulting in a price per square foot of $1,964.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $11,000,000
- Square Footage: 5,600
- Price Per Square Foot: $1,964
- Address: 1485 Cleveland Road
- Market: Miami Beach
- Seller: Sam Logan
- Buyer's Representative: Joel Lusky & Alexander Knips - The Brokerage South Florida Real Estate
- Seller's Representatives: Jordan Karp - Jordan Karp LLC; Pier Paolo Visconti & Claudia Llanes - The Visconti Team - Douglas Elliman
This transaction involved several key individuals representing both the buyer and the seller. The buyer's interests were represented by Joel Lusky and Alexander Knips from The Brokerage South Florida Real Estate. On the seller's side, Jordan Karp from Jordan Karp LLC, along with Pier Paolo Visconti and Claudia Llanes from The Visconti Team at Douglas Elliman, facilitated the deal.
On the Map
$11,000,000
$1,964/SF
Single Family Residence
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Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2K per square foot on a published $11M for 5,600 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93