Antonio Perez Acquires Miami Beach Single Family Home For $5.25M
1860 Bay Drive
$5,250,000
Building Size
—
Asset Type
Single Family
Closing
Oct 17, 2023
AI
The recently closed property transaction in Miami Beach involved the sale of a single-family home located at 1860 Bay Drive. The property offers stunning panoramic views of Biscayne Bay and downtown Miami. The interior of the home features elegant carrara marble flooring throughout and a newly renovated chef's kitchen with Viking appliances. The two-story main residence is accompanied by a guest apartment above. The property was sold for a price of $3,250,000.
Summary of transaction details:
- Property Type: Single Family Home
- Transaction Amount: $3,250,000
- Address: 1860 Bay Drive
- Market: Miami Beach
The buyer of the property was Antonio Perez, and the seller was Joseph Estrada & William Toth. Representing the buyer was Ana Salib from Real Estate of Florida Broward, while the seller was represented by Alex Kaufmann & Larry Hughes from Coldwell Banker Global Luxury.
According to the seller's representative, the property was successfully sold within just two weeks. The flawlessly redone waterfront home with its breathtaking views and elegant interior attracted the attention of buyers, ultimately resulting in a swift transaction.
Players
Miami Beach 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93