Eren Spring Purchases Single Family Home From Tom Sullivan For $3.625M In Miami Beach
433 South Hibiscus Drive
$3,625,000
$1,859/SF
Building Size
1,950 SF
Asset Type
Single Family Residence
Closing
Nov 21, 2024
AI
The property involved in the transaction is a single family home located at 433 South Hibiscus Drive in Miami Beach. It was sold for a price of $3,625,000, featuring a total square footage of 1,950. The price per square foot for this property amounts to $1,858.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $3,625,000
- Address: 433 South Hibiscus Drive
- Market: Miami Beach
- Square Footage: 1,950
- Price per Square Foot: $1,858
- Buyer: Eren Spring
- Seller: Tom Sullivan
- Buyer's Representative: Omar Garban - Douglas Elliman
- Seller's Representatives: Lourdes Alatriste & Nick Cato - Douglas Elliman
The transaction involved key representatives from Douglas Elliman who facilitated the deal. Omar Garban represented the buyer, Eren Spring, while the seller, Tom Sullivan, was represented by Lourdes Alatriste and Nick Cato. This collaboration contributed to the successful completion of the sale.
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
4.38%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93