Scott Reynolds Purchases Single Family Home From Joe Ferrer In Miami Beach For $7M
277 North Coconut Lane
$7,000,000
$2,684/SF
Building Size
2,608 SF
Asset Type
Single Family Residence
Closing
Jan 14, 2025
AI
This sale involves a single-family home located at 277 North Coconut Lane in Miami Beach. The property was sold for $7,000,000 and offers a living space of 2,608 square feet. The price per square foot stands at $2,684.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $7,000,000
- Address: 277 North Coconut Lane
- Market: Miami Beach
- Square Footage: 2,608
- Price per Square Foot: $2,684
- Buyer: Scott Reynolds
- Seller: Joe Ferrer
- Broker Representatives: Lourdes Alatriste & Nicholas Cato - Douglas Elliman; Yohane Carcases - Compass
This transaction marks a significant achievement as it represents the highest sale ever on North Coconut Lane, Palm Island, highlighting the notable accomplishments of the broker representatives involved in the deal.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93