Howard Chase Sells Pine Tree Drive Waterfront House In Miami Beach For $6.1M
5515 Pine Tree Drive, Miami Beach, FL 33140, USA
$6,100,000
$1,458/SF
Building Size
4,183 SF
Asset Type
Single Family Residence
Closing
Jul 26, 2020
AI
A waterfront house located at 5515 Pine Tree Drive in Miami Beach has been sold by Megan Hernandez. The property, listed by broker Howard Chase of Howard Chase Real Estate, was recently sold for a price of $6,100,000. The single-family residence spans over 4,183 square feet and was sold at an average price per square foot of $1,458.
Summary of transaction details
- Property Type: Single-Family Residence
- Transaction Amount: $6,100,000
- Address: 5515 Pine Tree Drive, Miami Beach
- Market: Miami Beach
- Broker: Howard Chase - Howard Chase Real Estate
- Asking Price: $6,200,000
- Square Footage: 4,183
- Price Per Square Foot: $1,458
Howard Chase, a renowned Miami luxury power broker, successfully spearheaded the sale of the Pine Tree Drive waterfront house. Impressively, this marks the second time the property has changed hands in just 19 months, with its price nearly doubling. In his reflections on the transaction, Chase credited his marketing strategy for tapping into the demand that currently fuels the Miami market. By specifically targeting the buying base in his refined plan, Chase attributes his success to connecting with the right groups.
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93