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M. Lee Pearce TRS Sells Single Family Home At 16 Lagorce Circle For $22.125M

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SOLD
$22,125,000

Florida

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Single Family Residence7,453 SF
Sold 10/25/2024
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Property Image
SOLD

M. Lee Pearce TRS Sells Single Family Home At 16 Lagorce Circle For $22.125M

16 Lagorce Circle

See Similar Deals
Single Family Residence7,453 SF
Sold 10/25/2024
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,968
Total Square Footage:7,453 SF
Transaction Type:Sale

The property asset involved in this transaction is a single-family residence located at 16 Lagorce Circle in the Miami Beach market. The sale price of the property was $22,125,000, with a total square footage of 7,453 and a price per square foot of $2,968.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $22,125,000
  • Address: 16 Lagorce Circle
  • Market: Miami Beach
  • Square Footage: 7,453
  • Price per Square Foot: $2,968
  • Seller: M. Lee Pearce TRS
  • Buyer's Representative: Evan Weiss - 305 Degrees Realty
  • Seller's Representative: Daniel Hertzberg - Coldwell Banker
  • Loan Broker: Jeremy Ruccio - Ruccio Group at RBC Private Wealth

The key individuals involved in this transaction include Evan Weiss representing the buyer, and Daniel Hertzberg representing the seller. The loan broker for the transaction was Jeremy Ruccio, who is associated with Ruccio Group at RBC Private Wealth.

Players

Daniel (Danny) Hertzberg
64 deals$1.6B volume
BROKER

Evan Weiss
305 Degrees Realty
7 deals$141.1M volume(914) 559-0205
BROKER

Details

SOLD
IMAGE: Jeremy Ruccio, Daniel Hertzberg & Evan Weiss DATE: 10/25/2024 ADDRESS: 16 Lagorce Circle MARKET: Miami Beach ASSET TYPE: Single Family SELLER: M. Lee Pearce TRS BUYER'S REP: Evan Weiss (@EvanjWeiss) - 305 Degrees Realty SELLER'S REP: Daniel Hertzberg (@DannyHertzberg) - Coldwell Banker (@ColdwellBanker) LOAN BROKER: Jeremy Ruccio - Ruccio Group at RBC Private Wealth SALE PRICE: $22,125,000 SF: 7,453 ~ PPSF: $2,968

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,180,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,605.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,883.79
Annual Debt Service$1,258,605.45