Oliver Lloyd Of Douglas Elliman Represents Seller In $45 Million Sale At 40 Palm Avenue Miami Beach
SOLD
$45,000,000
Florida
See Similar DealsSingle Family Residence14,930 SF
Sold 02/27/2025
SOLD
Oliver Lloyd Of Douglas Elliman Represents Seller In $45 Million Sale At 40 Palm Avenue Miami Beach
40 Palm Avenue
See Similar DealsSingle Family Residence14,930 SF
Sold 02/27/2025
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$3,014
Total Square Footage:14,930 SF
Transaction Type:Sale
A single-family asset located at 40 Palm Avenue in Miami Beach has been sold for a total of $45,000,000. The property occupies a space of 14,930 square feet, resulting in a price per square foot of $3,014. The transaction took place off-market.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $45,000,000
- Address: 40 Palm Avenue
- Market: Miami Beach
- Square Footage: 14,930
- Price per Square Foot: $3,014
- Brokers: Oliver Lloyd - Douglas Elliman; Matthew Dugow - Compass
Oliver Lloyd from Douglas Elliman and Matthew Dugow from Compass represented the involved parties in this transaction. The sale showcases their capabilities within the Miami Beach real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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