Isaac Perez Sells Coconut Grove Property For Record-Breaking $65M With Buyer's Rep Tal Alexander, Oren Alexander, And Seller's Rep Jorge Uribe
SOLD
$65,000,000
Florida
See Similar DealsSingle Family Residence656 SF
Sold 07/29/2021
SOLD
Isaac Perez Sells Coconut Grove Property For Record-Breaking $65M With Buyer's Rep Tal Alexander, Oren Alexander, And Seller's Rep Jorge Uribe
3488 Saint Gaudens Road, Miami, FL, USA
See Similar DealsSingle Family Residence656 SF
Sold 07/29/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$99,085
Total Square Footage:656 SF
Transaction Type:Sale
A 4.3-acre single-family property located at 3488 Saint Gaudens Road in Coconut Grove, Miami has been sold for a record-breaking price of $65,000,000. This transaction marks the highest recorded sale to date in Miami-Dade. The sale was finalized on July 29, 2021.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $65,000,000
- Address: 3488 Saint Gaudens Road
- Market: Coconut Grove, Miami
- Acres: 4.3
The seller of the property was Isaac Perez, while the buyer was represented by Tal Alexander, Oren Alexander, and their team at Douglas Elliman. The seller was represented by Jorge Uribe from One Sotheby's International Realty. This notable deal showcases the expertise and negotiation skills of the involved parties.
This sale highlights the strong demand and increasing prices in the Miami-Dade real estate market. With its desirable location in Coconut Grove and the significant acreage of 4.3, this property attracted attention and achieved a remarkable sale price.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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