Michael Newman Sells Single Family Residence At 260 South Parkway North Miami Beach For $10.5M
SOLD
$10,500,000
Florida
See Similar DealsSingle Family Residence6,123 SF
Sold 09/01/2024
SOLD
Michael Newman Sells Single Family Residence At 260 South Parkway North Miami Beach For $10.5M
260 South Parkway
See Similar DealsSingle Family Residence6,123 SF
Sold 09/01/2024
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,714
Total Square Footage:6,123 SF
Lot Square Footage:10476 SF
Transaction Type:Sale
This transaction involves a single-family residence located at 260 South Parkway in North Miami Beach. The property was sold for $10,500,000.00 and has a total square footage of 6,123.0.
Summary of transaction details:
- Property Type: Single Family Residence
- Transaction Amount: $10,500,000.00
- Address: 260 South Parkway
- Market: North Miami Beach
- Square Footage: 6,123.0
- Seller: Michael Newman
- Brokers: Eli Eskenazi (Miles Goldstein Real Estate), Alan Eskenazi (Miles Goldstein Real Estate)
Eli Eskenazi and Alan Eskenazi, both from Miles Goldstein Real Estate, represented the seller, Michael Newman, in this transaction. Their involvement facilitated the completion of the sale of the property.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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