Updated Oct 29, 2024
Gabe Plotkin's Melvin Capital Management Acquires Miami Beach SFR For $44M
Miami Beach, FL, USA
$44,000,000
$1,187/SF
Building Size
37,058 SF
Asset Type
Single Family Residence
Closing
Nov 30, 2020
About this deal
AI
Melvin Capital Management CEO, Gabe Plotkin, has acquired a Single Family Residence (SFR) in Miami Beach for a whopping $44,000,000. The property spans over 37,058 square feet, resulting in a price per square foot (PPSF) of $1,187. The sale took place on November 30, 2020, and the seller was Jean Simonian.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $44,000,000
- Market: Miami Beach
- Buyer: Gabe Plotkin - Melvin Capital Management
- Seller: Jean Simonian
- Brokers: Ruthie Assouline & Ethan Assouline - Compass
- Square Footage: 37,058
- Price per Square Foot (PPSF): $1,187
The transaction involved Gabe Plotkin of Melvin Capital Management as the buyer, represented by Ruthie Assouline and Ethan Assouline of Compass. The seller, Jean Simonian, successfully closed the deal. This significant transaction showcases the robust real estate activity in Miami Beach, reflecting high-value investments in the market.
Players
Miami Beach 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93