Buyers Eloy Carmenate And Mick Duchon Acquire 370 South Hibiscus Drive Miami Beach For 31.75M
SOLD
$31,750,000
Florida
See Similar DealsSingle Family Residence10,754 SF
Sold 07/18/2025
SOLD
Buyers Eloy Carmenate And Mick Duchon Acquire 370 South Hibiscus Drive Miami Beach For 31.75M
370 South Hibiscus Drive
See Similar DealsSingle Family Residence10,754 SF
Sold 07/18/2025
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,952
Total Square Footage:10,754 SF
Transaction Type:Sale
370 South Hibiscus Drive, Miami Beach — a single-family home sold for $31,750,000. The property spans 10,754 square feet with a PPSF of $2,952, and the transaction closed on 07/18/2025 within the Miami Beach market.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $31,750,000
- Date of Closing: 07/18/2025
- Mick Duchon - The Corcoran Group
- Eloy Carmenate - The Corcoran Group
- Liz Hogan - Compass
The deal involved The Corcoran Group as the buyers’ representative for Mick Duchon and Eloy Carmenate and Liz Hogan of Compass as the seller’s representative, highlighting the brokers and firms behind the transaction.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$112,801.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$150,511.20
Annual Debt Service$1,806,134.38
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