Paul Morelli Acquires Miami Beach SFR From Quantum Equity One For $11.5M
394 South Hibiscus Drive, Miami Beach, FL, USA
$11,500,000
$2,007/SF
Building Size
5,729 SF
Asset Type
Single Family Residence
Closing
Mar 30, 2021
AI
The property involved in this transaction is a single-family home located at 394 South Hibiscus Drive in Miami Beach. The property spans 5,729 square feet and was sold for a price of $11,500,000, resulting in a price per square foot of $2,007.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $11,500,000
- Address: 394 South Hibiscus Drive, Miami Beach
- Market: Miami Beach
The buyer of the property is Paul Morelli, while the seller is Quantum Equity One LLC, represented by Laurent Groll. The broker involved in the deal is Julian Johnston from The Corcoran Group.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93