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Kirsten And Richard Tester Acquire Single Family Home In Miami Beach For $13M

Property Image
SOLD
$13,000,000
Julian Johnston
RT

Florida

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Single Family Residence7,972 SF
Sold 05/13/2021
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Property Image
SOLD

Kirsten And Richard Tester Acquire Single Family Home In Miami Beach For $13M

1617 22nd Street, Miami Beach, FL, USA

See Similar Deals
Single Family Residence7,972 SF
Sold 05/13/2021
Julian Johnston
RT
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,630
Total Square Footage:7,972 SF
Transaction Type:Sale

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.

Players

Julian Johnston
The Corcoran Group
Julian Johnston
55 deals$777.3M volume(305) 502-3985
BROKER
R
Redzone
BUYER
RT
Richard Tester
2 deals$21.6M volume
BUYER
Kawa Capital Management
Kawa Capital Management
SELLER
Kawa Capital Management
Kawa Capital Management
SELLER

Details

SOLD
IMAGE: Alexandre Saverin, Julian Johnston & Richard Tester DATE: 05/13/2021 ADDRESS: 1617 West 22nd Street MARKET: Miami Beach ASSET TYPE: Single Family BUYER: Kirsten Tester; Richard Tester - Redzone Production Systems SELLER: Johanna Paola Reyes; Alexandre Saverin - Kawa Capital Management BROKER: Julian Johnston - The Corcoran Group SALE PRICE: $13,000,000 SF: 7,972 ~ PPSF: $1,631

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

$693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59