Leon Patitsas Of Atlas Maritime Acquires 7,050 SF Single Family Home On Hibiscus Island For $17.5M
SOLD
$17,500,000
Florida
See Similar DealsSingle Family Residence7,942 SF
Sold 05/25/2022
SOLD
Leon Patitsas Of Atlas Maritime Acquires 7,050 SF Single Family Home On Hibiscus Island For $17.5M
225 North Hibiscus Drive, Miami Beach, Florida 33139, United States
See Similar DealsSingle Family Residence7,942 SF
Sold 05/25/2022
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,203
Total Square Footage:7,942 SF
Transaction Type:Sale
The single-family property located at 225 North Hibiscus Drive in Hibiscus Island, Miami Beach has been sold. The property spans 0.6 acres and features a total area of 7,050 square feet. The sale took place on May 25, 2022.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $17,500,000
- Price per Square Foot: $2,482
- Address: 225 North Hibiscus Drive, Hibiscus Island, Miami Beach
- Market: Hibiscus Island, Miami Beach
- Buyer: Leon Patitsas - Atlas Maritime
- Seller: Young Kim
- Lender: City National Bank of Florida
Leon Patitsas, representing Atlas Maritime, purchased the property from Young Kim. City National Bank of Florida provided the lending for the transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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