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
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