Michael Rappaport Acquires Single Family Home In Golden Beach For $14.1M
SOLD
$14,145,000
+ 1
Florida
See Similar DealsSingle Family Residence7,207 SF
Sold 05/14/2020
SOLD
Michael Rappaport Acquires Single Family Home In Golden Beach For $14.1M
610 North Island Road, Golden Beach, FL, USA
See Similar DealsSingle Family Residence7,207 SF
Sold 05/14/2020
+ 1
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,962
Total Square Footage:7,207 SF
Transaction Type:Sale
A single-family property located at 610 North Island Road in Golden Beach has been sold. The property spans 7,207 square feet and was sold for a total of $14,145,000 at a price per square foot of $1,963.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $14,145,000
- Date: 05/14/2021
- Market: Golden Beach
The buyer of the property was Michael Rappaport, representing Homespire Mortgage, while the sellers were Michelle Klinger and Michael Klinger of Saber Real Estate Advisors. Marc Hameroff, from Engels & Volkers, acted as the buyer's representative in the transaction. On the other hand, Jon Mann, from The Jills Zeder Group - Coldwell Banker, represented the sellers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$754,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,254.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,054.52
Annual Debt Service$804,654.20
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