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8605 Sw 56 St

Ray Watson Acquires Single Family Home From Jay Wolter For $2.2 Million In Olympia Heights
SOLDSingle Family Residence

Ray Watson Acquires Single Family Home From Jay Wolter For $2.2 Million In Olympia Heights

8605 Sw 56 St

$2,200,000

$588/SF

Building Size

3,739 SF

Asset Type

Single Family Residence

Closing

Sep 10, 2025

AI

The property asset involved in the transaction is a single-family home located at 8605 Southwest 56th Street in the Olympia Heights market. The sale price was recorded at $2,200,000, with a total square footage of 3,739, resulting in a price per square foot of $588.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $2,200,000
  • Address: 8605 Southwest 56th Street
  • Market: Olympia Heights
  • Square Footage: 3,739
  • Price per Square Foot: $588
  • Buyer: Ray Watson
  • Seller: Jay Wolter
  • Buyer's Representative: Chris Borchetta - Luxe Properties
  • Seller's Representative: Jordan Karp - Jordan Karp LLC

The parties involved in this transaction include Ray Watson as the buyer and Jay Wolter as the seller. The buyer was represented by Chris Borchetta from Luxe Properties, while the seller was represented by Jordan Karp from Jordan Karp LLC, marking a significant collaboration in the real estate market.

Players

Jordan Karp

Broker

$876M

vol

61 deals

Broker
Luxe Properties
Luxe PropertiesBuyer

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93