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James Curnin's Clara Homes LGI LLC Acquires Miami Beach SFR For $7.5M

Property Image
SOLD
$7,500,000
Eloy Carmenate
+ 1

Florida

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Single Family Residence3,148 SF
Sold 11/03/2020
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Property Image
SOLD

James Curnin's Clara Homes LGI LLC Acquires Miami Beach SFR For $7.5M

66 Lagorce Circle, Miami Beach, FL, USA

See Similar Deals
Single Family Residence3,148 SF
Sold 11/03/2020
Eloy Carmenate
+ 1
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,382
Total Square Footage:3,148 SF
Transaction Type:Sale

Located in Miami Beach, the property at 66 La Gorce Circle recently changed hands in a sale transaction. The single-family home, with a total living area of 3,148 square feet, was sold for a price of $7,500,000, resulting in a price per square foot of $2,382. This transaction took place on November 3, 2020. The property is situated in a desirable market and offers a range of attractive features.

Summary of Transaction Details

  • Property Type: Single Family Residence (SFR)
  • Transaction Amount: $7,500,000
  • Address: 66 La Gorce Circle, Miami Beach
  • Market: Miami Beach

The buyer in this transaction is James Curnin, representing Clara Homes LGI LLC. On the other hand, the sellers are Robert Frankel and Lisa Frankel, who were represented by Phillips House. The deal was facilitated by Mick Duchon and Eloy Carmenate, both of Douglas Elliman, who served as the brokers in this transaction.

Players

Eloy Carmenate
32 deals$584.2M volume(305) 582-7179
BROKER

Michael (Mick) Duchon
The Corcoran Group
36 deals$670.3M volume(732) 754-7535
BROKER

James Curnin
9 deals$207.5M volume
BUYER

Details

SOLD
IMAGE: James Curnin⁠ DATE: 11/03/2020⁠ ADDRESS: 66 La Gorce Circle⁠ MARKET: Miami Beach⁠ ASSET TYPE: SFR⁠ BUYER: James Curnin - Clara Homes LGI LLC⁠ SELLER: Robert Frankel, Lisa Frankel - Phillips House⁠ BROKERS: Mick Duchon & Eloy Carmenate - Douglas Elliman⁠ PRICE: $7,500,000⁠ SF: 3,148 ~ PPSF: $2,382

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

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92