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11855 Southwest 60th Avenue

Joshua Kaufman Acquires Pinecrest Estate For Village In Record Sale At $13.9M
SOLDSingle Family

Joshua Kaufman Acquires Pinecrest Estate For Village In Record Sale At $13.9M

11855 Southwest 60th Avenue

$13,900,000

$1,666/SF

Building Size

8,343 SF

Asset Type

Single Family

Closing

Jan 24, 2024

AI

The 5-acre Single Family property located at 11855 Southwest 60th Avenue in Pinecrest was sold for a record $13.9 million. The property spans 8,343 square feet with a price per square foot of $1,666. The sellers, Jorge Mas and Aleyda Mas, handed over the estate to the village of Pinecrest, intending for it to be transformed into a park and an indoor facility project. The Mas family contributed an additional $3.9 million towards naming rights in honor of Aleyda Mas.

Summary of transation details:

The deal was brokered by Joshua Kaufman from Compass, representing the buyers, and Diana Gutierrez along with Jorge Mas Jr. from Mocca Realty, representing the sellers. The involvement of billionaire Jorge Mas and his wife, Aleyda Mas, adds a personal touch to the transaction, especially with the generous donation towards naming rights for the future park and indoor facility.

Players

Diana Gutierrez

Mocca Realty

Broker

$217.5M

vol

14 deals

Broker
Jorge Mas

Jorge Mas

Seller

$966.8M

vol

9 deals

Seller

Pinecrest Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.14%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93