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Timbaland Acquires SFR In Coral Gables For $7.95M From Balli Development Group

Property Image
SOLD
$7,950,000
Toni Schrager
Stefano Balli
SM
+ 2

Florida

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Single Family Residence8,600 SF
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the dealplayerscompscontact
Property Image
SOLD

Timbaland Acquires SFR In Coral Gables For $7.95M From Balli Development Group

5400 Hammock Drive, Coral Gables, FL, USA

See Similar Deals
Single Family Residence8,600 SF
Sold
Toni Schrager
Stefano Balli
SM
+ 2
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$924
Total Square Footage:8600 SF
Transaction Type:Sale

The property involved in this closed transaction is a single-family home (SFR) located at 5400 Hammock Drive in Coral Gables. The property spans 8,600 square feet and was sold for a price of $7,950,000, resulting in a price per square foot of $924.

Summary of transaction details:

  • Property Type: Single-Family Home (SFR)
  • Transaction Amount: $7,950,000
  • Address: 5400 Hammock Drive
  • Market: Coral Gables

The seller in this transaction was Balli Development Group, represented by Giorgio Balli. The buyer was Timothy Z. Mosley, widely known as Timbaland. Stefano Balli from Compass, along with Toni Schrager and Sandra Metrakos from Brown Harris Stevens, served as the brokers in this deal.

Players

SM
Brown Harris Stevens
Sandra Metrakos
2 deals$15.9M volume
BROKER
Toni Schrager
Brown Harris Stevens
Toni Schrager
8 deals$75.3M volume
BROKER
Stefano Balli
Compass
Stefano Balli
3 deals$32.9M volume
BROKER
TM
Timothy Z. Mosley
2 deals$15.9M volume
BUYER
GB
Giorgio Balli
2 deals$15.9M volume
SELLER

Details

SOLD
IMAGE: Timbaland, Stefano Balli, Toni Schrager & Sandra Metrakos DATE: 12/06/2019 ADDRESS: 5400 Hammock Drive MARKET: Coral Gables ASSET TYPE: SFR SELLER: Balli Development Group - Giorgio Balli BUYER: Timbaland (Timothy Z. Mosley) BROKERS: Stefano Balli - Compass, Toni Schrager, Sandra Metrakos - Brown Harris Stevens PRICE: $7,950,000 SF: 8,600 ~ PPSF: $924

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$424,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,244.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,687.06
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