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EAL LLC Acquires 610 North Island Drive In Golden Beach For $19.6M

Property Image
SOLD
$19,600,000
Oren Alexander

Florida

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Single Family Residence7,200 SF
Sold 06/26/2023
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Property Image
SOLD

EAL LLC Acquires 610 North Island Drive In Golden Beach For $19.6M

610 N Island Rd Golden Beach, FL 33160, USA

See Similar Deals
Single Family Residence7,200 SF
Sold 06/26/2023
Oren Alexander
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,722
Total Square Footage:7,200 SF
Transaction Type:Sale

A waterfront property located at 610 North Island Drive in Golden Beach, Miami-Dade County, has been sold for a record-breaking amount of $19.6 million. The property is a single-family home situated on 0.4 acres of land. It features 7,200 square feet of living space and boasts six bedrooms. One of the standout features of this property is its 100 feet of water frontage.

Summary of transaction details

  • Property Type: Single-Family Home
  • Transaction Amount: $19,600,000
  • Address: 610 North Island Drive
  • Market: Golden Beach
  • Lot Size: 0.4 acres

The buyer of this property is EAL LLC, while the sellers are Anamaria & Michael Rappaport. Representing the buyer in this transaction is Oren Alexander from Official, whereas Jonathan Mann from Coldwell Banker is the seller's representative.

This sale sets a new record for non-waterfront homes in the Golden Beach area, highlighting the desirability and appeal of this particular property. The 7,200-square-foot house, with its six bedrooms and impressive water frontage, undoubtedly played a significant role in attracting the record-breaking sale price.

Players

Oren Alexander
106 deals$2B volume(305) 610-4559
BROKER

Jonathan (Jon) Mann
Coldwell Banker
22 deals$348.6M volume
BROKER

Details

SOLD
IMAGE: Oren Alexander & Jonathan Mann DATE: 06/26/2023 ADDRESS: 610 North Island Drive MARKET: Golden Beach ASSET TYPE: SFR ~ ACRES: 0.4 BUYER: EAL LLC SELLER: Anamaria & Michael Rappaport BUYER'S REP: Oren Alexander (@OrenAlexander) - Official SELLER'S REP: Jonathan Mann - Coldwell Banker (@ColdwellBanker) SALE PRICE: $19,600,000 SF: 7,200 ~ PPSF: $2,722 NOTE: A waterfront property in Golden Beach, Miami-Dade County, sold for $19.6 million, setting a record for non-waterfront homes in the area. The 7,200-square-foot house features six bedrooms and 100 feet of water frontage.

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

$1,045,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
Annual Debt Service$1,114,967.99