Updated Oct 28, 2024
Kirsten And Richard Tester Acquire Single Family Home In Miami Beach For $13M
1617 22nd Street, Miami Beach, FL, USA
$13,000,000
$1,630/SF
Building Size
7,972 SF
Asset Type
Single Family Residence
Closing
May 12, 2021
About this deal
AI
Located at 1617 West 22nd Street in Miami Beach, this single family home was recently sold in a closed transaction. The property spans 7,972 square feet and was sold for $13,000,000, resulting in a price per square foot of $1,631.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $13,000,000
- Market: Miami Beach
- Buyer: Kirsten Tester; Richard Tester - Redzone Production Systems
- Seller: Johanna Paola Reyes; Alexandre Saverin - Kawa Capital Management
- Broker: Julian Johnston - The Corcoran Group
The buyer, represented by Richard Tester of Redzone Production Systems, acquired the property from the seller, represented by Alexandre Saverin of Kawa Capital Management. This transaction marks a significant deal in the Miami Beach market.
On the Map
$13,000,000
$1,630/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 $1.6K per square foot on a published $13M for 7,972 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93