Timbaland Acquires $7.95M SFR In Coral Gables From Balli Development Group
SOLD
$7,950,000
Florida
See Similar DealsSingle Family Residence17,200 SF
Sold
SOLD
Timbaland Acquires $7.95M SFR In Coral Gables From Balli Development Group
5400 Hammock Drive, Coral Gables, FL, USA
See Similar DealsSingle Family Residence17,200 SF
Sold
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$462
Total Square Footage:17200 SF
Transaction Type:Sale
The property involved in this transaction is a single-family residence located at 5400 Hammock Drive in Coral Gables. The property has a total square footage of 8,600 and was sold for a price of $7,950,000. The price per square foot was calculated to be $924.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $7,950,000
- Market: Coral Gables
- Seller: Balli Development Group - Giorgio Balli
- Buyer: Timbaland (Timothy Z. Mosley)
- Brokers: Stefano Balli - Compass, Toni Schrager, Sandra Metrakos - Brown Harris Stevens
The seller of the property was Balli Development Group, represented by Giorgio Balli. The buyer was Timbaland, also known as Timothy Z. Mosley. The deal was facilitated by brokers Stefano Balli from Compass, and Toni Schrager and Sandra Metrakos from Brown Harris Stevens.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$424,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,244.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,687.06
Annual Debt Service$452,244.67
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