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Oscar De La Rosa Acquires Palm Island SFR For $30M

Property Image
SOLD
$30,000,000
Oscar De la Rosa
Liz Hogan

Florida

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Single Family Residence10,984 SF
Sold 08/13/2021
the dealplayerscompscontact
Property Image
SOLD

Oscar De La Rosa Acquires Palm Island SFR For $30M

94 Palm Avenue, Miami Beach, FL, USA

See Similar Deals
Single Family Residence10,984 SF
Sold 08/13/2021
Oscar De la Rosa
Liz Hogan
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,731
Total Square Footage:10,984 SF
Transaction Type:Sale

An SFR located at 94 Palm Avenue in Palm Island, Miami Beach was recently sold in a record-breaking transaction. The property, spanning 10,984 square feet, features a sale price of $30,000,000, resulting in a price per square foot of $2,731. The transaction took place on 08/13/2021 and involved seller Armando Simosa.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $30,000,000
  • Address: 94 Palm Avenue
  • Market: Palm Island, Miami Beach

Oscar De la Rosa represented the buyer in this historic sale, while Liz Hogan served as the seller's representative. The deal, closed in just two weeks, marks the highest sale price ever recorded in Palm Island. The buyer was represented by Oscar De la Rosa from Endeavor International Real Estate, and the seller was represented by Liz Hogan from Compass.

Note from broker: The $30,000,000 sale of this property sets a new record for Palm Island, making it the most expensive sale in the area to date.

Players

Liz Hogan
Compass
Liz Hogan
33 deals$522M volume(305) 804-9700
BROKER
Oscar De la Rosa
Oscar De la Rosa
3 deals$69.9M volume
BROKER

Details

SOLD
IMAGE: Liz Hogan & Oscar De la Rosa DATE: 08/13/2021 ADDRESS: 94 Palm Avenue MARKET: Palm Island, Miami Beach ASSET TYPE: SFR SELLER: Armando Simosa BUYER'S REP: Oscar De la Rosa (@OscarADeLaRosa) SELLER'S REP: Liz Hogan (@ListingMiami) ASKING PRICE: $34,999,999 SALE PRICE: $30,000,000 SF: 10,984 ~ PPSF: $2,731 NOTE FROM BROKER: RECORD BREAKING $30,000,000.00 Sale. Most expensive sale in Palm Island, Ever. Under contract and closed in two weeks! Buyer represented by Oscar De la Rosa from Endeavor International Real Estate. Seller represented by Liz Hogan from Compass.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
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