Myles Shear Acquires Miami Beach SFR For $6.6M With Buyer's Rep Julian Cohen And Seller's Rep Nicolas Brocherie
SOLD
$6,600,000
Florida
See Similar DealsSingle Family Residence5,202 SF
Sold 12/10/2020
SOLD
Myles Shear Acquires Miami Beach SFR For $6.6M With Buyer's Rep Julian Cohen And Seller's Rep Nicolas Brocherie
3300 Chase Avenue, Miami Beach, FL, USA
See Similar DealsSingle Family Residence5,202 SF
Sold 12/10/2020
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,268
Total Square Footage:5,202 SF
Transaction Type:Sale
The recently closed property transaction in Miami Beach involved the sale of a single-family home located at 3300 Chase Avenue. The property, spanning 5,202 square feet, was sold for a price of $6,600,000. The sale price reflects a per square foot value of approximately $1,269. The SFR asset type located in the sought-after market of Miami Beach garnered significant attention.
Summary of transaction details
- Property Type: Single-Family Home
- Transaction Amount: $6,600,000
- Address: 3300 Chase Avenue
- Market: Miami Beach
Myles Shear acted as the buyer in this acquisition, while Trung Nghia Duong served as the seller. Representing the buyer was Julian Cohen from The Jills Zeder Group. On the other side, Nicolas Brocherie from The Olivine Realty Group represented the seller. Their expertise played a pivotal role in ensuring a successful transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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