Raj Prakash Acquires SFR In Miami Beach From Tim Hardaway Jr. For $6.75M
SOLD
$6,750,000
Florida
See Similar DealsSingle Family Residence5,500 SF
Sold 10/15/2021
SOLD
Raj Prakash Acquires SFR In Miami Beach From Tim Hardaway Jr. For $6.75M
672 South Shore Drive, Miami Beach, FL 33141, USA
See Similar DealsSingle Family Residence5,500 SF
Sold 10/15/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,227
Total Square Footage:5,500 SF
Transaction Type:Sale
A single-family home located at 672 S Shore Dr in Miami Beach has been sold in a recent transaction. The property, spanning 5,500 square feet, was purchased by Raj Prakash for a sale price of $6,750,000. The transaction took place on October 15, 2021. The seller of the property was Tim Hardaway Jr. The buyer's representative in the deal was Ignacio Villanueva, while the seller was represented by Isaac Malagon of Empire Network Realty.
Summary of transaction details
- Property Type: Single-Family Home
- Transaction Amount: $6,750,000
- Address: 672 S Shore Dr, Miami Beach
- Market: Miami Beach
The sale price for the property was slightly below the asking price of $7,000,000. The price per square foot (PPSF) for the home equated to approximately $1,227. This transaction showcases the successful acquisition of a notable property in Miami Beach by Raj Prakash, facilitated by Ignacio Villanueva as the buyer's representative and Isaac Malagon of Empire Network Realty as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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