Updated Dec 4, 2024
Marcos Lago Acquires Single Family Home From HR Developers For $11.45M In Miami Beach
3172 North Bay Road
$11,450,000
$2,181/SF
Building Size
5,248 SF
Asset Type
Single Family Residence
Closing
Aug 1, 2024
About this deal
AI
The property involved in this transaction is a single-family home located at 3172 North Bay Road in Miami Beach. It has an asking price of $11,985,000 and ultimately sold for $11,450,000. The residence spans approximately 5,248 square feet, resulting in a price per square foot of $2,181.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $11,450,000
- Address: 3172 North Bay Road
- Market: Miami Beach
- Buyer: Marcos Lago
- Seller: HR Developers - Humberto Ramirez Developers
- Broker: Humberto Ramirez - Avanti Way
This transaction involved broker Humberto Ramirez representing HR Developers in the sale. The buyer, Marcos Lago, and seller had an agreement concluding the transaction in January 2024.
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 $11.5M for 5,248 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.39%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93