Updated Feb 11, 2025
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
About this deal
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.
On the Map
$7,000,000
$2,684/SF
Single Family Residence
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Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.7K per square foot on a published $7M for 2,608 square feet (2025).
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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