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3545 North Ocean Trust Acquires Single Family Property In Gulf Stream For $33M

Property Image
SOLD
$33,000,000
Randolph "Randy " Ely
Elizabeth "Betsy" Cooke
+ 2

Florida

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Single Family Residence6,019 SF
Sold 03/07/2022
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Property Image
SOLD

3545 North Ocean Trust Acquires Single Family Property In Gulf Stream For $33M

Gulf Stream, Florida, United States

See Similar Deals
Single Family Residence6,019 SF
Sold 03/07/2022
Randolph "Randy " Ely
Elizabeth "Betsy" Cooke
+ 2
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$5,482
Total Square Footage:6,019 SF
Transaction Type:Sale

Located in the upscale market of Gulf Stream, a single-family property was recently sold in a closed transaction. The property, spanning over 14,000 square feet, was acquired by 3545 North Ocean Trust for a sale price of $33,000,000. The transaction was facilitated by Candace & Phillip Friis from The Corcoran Group, who represented both the buyer and the seller, Gulf Stream Ocean Properties FL - Gary Clinton Scheier - Oberndorf Enterprises.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $33,000,000
  • Square Footage: 14,000
  • Price per Square Foot: $2,357
  • Market: Gulf Stream

The acquisition of this prestigious property was made possible through the collaborative efforts of Candace & Phillip Friis from The Corcoran Group. Their expertise in the market and their representation of both the buyer and the seller ensured a successful transaction. The property, though devoid of additional details, stands as a testament to the thriving luxury real estate market in Gulf Stream.

Players

Candace Friis
14 deals$343.3M volume
BROKER

Nicholas (Nick) Malinosky
Douglas Elliman
20 deals$459.4M volume
BROKER

Elizabeth "Betsy" Cooke
The Corcoran Group
2 deals$44M volume
BROKER

Randolph "Randy " Ely
Douglas Elliman
2 deals$62.1M volume
BROKER

Phillip Friis
The Corcoran Group
7 deals$224.4M volume
BROKER

BUYER

Details

SOLD
IMAGE: Candace Friis & Phillip Friis DATE: 03/07/2022 MARKET: Gulf Stream ASSET TYPE: Single Family BUYER: 3545 North Ocean Trust SELLER: Gulf Stream Ocean Properties FL - Gary Clinton Scheier - Oberndorf Enterprises BROKERS: Candace & Phillip Friis - The Corcoran Group SALE PRICE: $33,000,000 SF: 14,000 ~ PPSF: $2,357

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

$1,759,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$117,242.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,436.84
Annual Debt Service$1,877,242.03