Updated Oct 28, 2024
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
$17,500,000
$2,203/SF
Building Size
7,942 SF
Asset Type
Single Family Residence
Closing
May 24, 2022
About this deal
AI
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.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.2K per square foot on a published $17.5M for 7,942 square feet (2022).
Browse Florida single family residence sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93