Stephen Nussdorf And Carolina Garcia-Pirez Buy Coral Gables Waterfront Property For $17.45M
165 Solano Prado
$17,450,000
$2,972/SF
Building Size
5,870 SF
Asset Type
Single Family
Closing
Jul 22, 2024
AI
A waterfront single-family property located at 165 Solano Prado in Coral Gables has been sold for $17,450,000. The asset covers an area of 0.71 acres and has a total living space of 5,870 square feet, translating to a price per square foot of $2,973. Originally built in 1973, the property is set for redevelopment as the new owners plan to construct a custom mansion on the site.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $17,450,000
- Buyer: Alicia Nussdorf; Stephen Nussdorf - Parlux Holdings; Carolina Garcia-Pirez; Alex Pirez - Mocca Group
- Seller: Sondra Seiderman Revocable Trust, with Roni Seiderman & Linda Nicole Mair
- Buyer's Representative: Alex Pirez - Mocca Realty
- Seller's Representative: Judith Zeder - Coldwell Banker
- Lender: City National Bank of Florida
- Mortgage Amount: $11,510,000
The transaction involved prominent figures including Stephen Nussdorf, serving as executive chairman of Parlux Holdings, and local homebuilder Alex Pirez from Mocca Group. Judith Zeder of Coldwell Banker represented the seller in this significant property transaction.
Players
Coral Gables 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93