Updated Oct 28, 2024
Sunset Lake 4744 LLC Acquires Single-Family Property In Miami Beach For $28.3M
2220 North Bay Road, Miami Beach, Florida 33140, United States
$28,300,000
$5,763/SF
Building Size
4,910 SF
Asset Type
Single Family Residence
Closing
Jun 5, 2022
About this deal
AI
Located at 2220 N. Bay Road in Miami Beach, this single-family home was recently sold for a staggering $28,300,000. With a total area of 4,910 square feet, the property boasts a price per square foot of $5,764. The transaction took place on June 6, 2022, and the sale was facilitated by Jeffrey Fields of One Sotheby's International Realty, representing the buyer, Sunset Lake 4744 LLC, who was advised by their attorney, Frank J. Estevez. The seller, Bindery Holdings LLC, was represented by Daniel Hertzberg of the Jill Zeder Group at Coldwell Banker.
Summary of transaction details
- Property Type: Single-Family
- Transaction Amount: $28,300,000
- Market: Miami Beach
- Buyer: Sunset Lake 4744 LLC - Charlene Ladas
- Seller: Bindery Holdings LLC - Richard Mendy - Third Point LLC
- Buyer's Representative: Jeffrey Fields - One Sotheby's International Realty
- Seller's Representative: Daniel Hertzberg - Jill Zeder Group - Coldwell Banker
- Buyer's Attorney: Frank J. Estevez
- Lender: TD Bank
Additionally, the deal involved Richard Mendy from Third Point LLC, representing the seller, and the lender for the transaction was TD Bank. With such a substantial sale price, this transaction showcases the high-value real estate market in Miami Beach.
Players
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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93