Frank Farian Sells Miami Beach Waterfront Lot For $13.6M With Buyer's Rep Curkoski & Seller's Rep Barbosa
3100 North Bay Road
$13,600,000
Building Size
—
Asset Type
Single Family Residence
Closing
Aug 25, 2023
AI
A waterfront lot with mansion plans in Miami Beach was sold by music producer Frank Farian for $13.6 million. The property, located at 3100 North Bay Road, covers an area of 0.5 acres. Farian originally purchased the lot for $1.4 million in 2001 and recently listed it for $16.5 million in 2021.
Summary of transaction details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $13,600,000
- Address: 3100 North Bay Road
- Market: Miami Beach
- Seller: Frank Farian
- Buyer's Representative: Mirce Curkoski & Albert Justo - One Sotheby’s International Realty
- Seller's Representative: Rodrigo Barbosa - Premier Flat Fee Realty
Mirce Curkoski and Albert Justo of One Sotheby’s International Realty acted as the buyer's representatives in the transaction, while Rodrigo Barbosa of Premier Flat Fee Realty represented the seller, Frank Farian. The sale marks a significant increase in value compared to the original purchase price, showcasing the property's appreciation over the years.
Players
North Bay Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93