Updated Oct 29, 2024
German Rosete Acquires SFR In Miami Beach For $6.5M
70 North Hibiscus Drive, Miami Beach, FL, USA
$6,500,000
$797/SF
Building Size
8,147 SF
Asset Type
Single Family Residence
Closing
Feb 16, 2021
About this deal
AI
A single-family home located at 70 North Hibiscus Drive in Miami Beach has been sold for $6,500,000. The property has a total square footage of 8,147, resulting in a price per square foot of $798. The sale was finalized on February 17, 2021.
Summary of transaction details:
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $6,500,000
- Address: 70 North Hibiscus Drive, Miami Beach
- Market: Miami Beach
The buyer of the property is German Rosete, while the seller is the Santorini Revocable Living Trust represented by Regina M. Campbell. German Rosete was represented by Valentina Grajales from Fortune International Realty Brickell Inc, and the seller was represented by Lourdes Alatriste from Douglas Elliman.
This transaction was a significant deal for both the buyer and the seller. It showcases the demand for high-end residential properties in Miami Beach. With its spacious square footage and prime location, the property offers a luxurious living experience for its new owner, German Rosete.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $797 per square foot on a published $6.5M for 8,147 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93