Paulo Bacchi's Artefacto Acquires SFR In Palm Island For $5.3M
SOLD
$5,300,000
Florida
See Similar DealsSingle Family Residence3,686 SF
Sold 10/07/2021
SOLD
Paulo Bacchi's Artefacto Acquires SFR In Palm Island For $5.3M
222 South Coconut Lane, Miami Beach, FL 33139, USA
See Similar DealsSingle Family Residence3,686 SF
Sold 10/07/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,437
Total Square Footage:3,686 SF
Transaction Type:Sale
A single-family residential property located at 222 S Coconut Lane in Palm Island, Miami Beach was recently sold for a total of $5,300,000. The property spans 3,686 square feet, resulting in a price per square foot of $1,438.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $5,300,000
- Address: 222 S Coconut Lane, Palm Island, Miami Beach
- Market: Palm Island, Miami Beach
The buyer of the property is Paulo Bacchi, the owner of Artefacto. Representing both the buyer and the seller in this transaction is Dora Puig from Luxe Living Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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