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769 NE 77th Ter, Miami, FL ...

Kenneth Funk Acquires Waterfront Belle Meade Home For $9M
SOLDSingle Family Residence

Kenneth Funk Acquires Waterfront Belle Meade Home For $9M

769 NE 77th Ter, Miami, FL 33138

$9,000,000

$1,666/SF

Building Size

5,400 SF

Asset Type

Single Family Residence

Closing

Aug 25, 2023

AI

A waterfront Belle Meade home in Miami, Florida has been sold for $9 million. The property features five bedrooms, six bathrooms, a pool, and a dock. With a total square footage of 5,400, the price per square foot comes to $1,667. The address of the property is 769 Northeast 77th Terrace, and it sits on 0.2 acres of land.

Summary of transaction details

  • Property Type: Single-Family Residential
  • Transaction Amount: $9,000,000
  • Address: 769 Northeast 77th Terrace
  • Market: Belle Meade
  • Square Footage: 5,400
  • Price Per Square Foot: $1,667

Kenneth Funk, a healthcare executive, purchased the property in the transaction. Represented by Sonia Toth from Brown Harris Stevens, Funk acquired the waterfront home from STB Commercial Installation Services. The seller was represented by June Savage from One Sotheby's International Realty. It is worth noting that the property was previously listed for $9.5 million.

Players

Sonia Toth

Brown Harris Stevens

Broker

$51.5M

vol

8 deals

Broker

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

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93