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610 N Island Rd Golden Beac...

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

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

610 N Island Rd Golden Beach, FL 33160, USA

$19,600,000

$2,722/SF

Building Size

7,200 SF

Asset Type

Single Family Residence

Closing

Jun 26, 2023

AI

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

Official

Broker

$2B

vol

106 deals

Broker

Michael Rappaport

Seller

$33.7M

vol

2 deals

Seller

Miami 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

0.81%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93