Reuben Brothers Acquire North Bay Road Home In Miami Beach For $14M
2000 North Bay Road
$14,000,000
$2,453/SF
Building Size
5,706 SF
Asset Type
Single Family
Closing
Apr 29, 2024
AI
A waterfront spec home on Miami Beach’s North Bay Road, spanning 0.27 acres, was recently sold for $14 million. The property, with a square footage of 5,706 and a price per square foot of $2,454, is located at 2000 North Bay Road in Miami Beach. The sale was facilitated by Lisa Blake of Villazzo LLC, representing the sellers Denise Vohra and Dr. Ameet Vohra, and Oren Alexander, the official representative of the buyers, David & Simon Reuben of Reuben Brothers.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $14,000,000
- Address: 2000 North Bay Road
- Market: Miami Beach
- Buyer: David & Simon Reuben - Reuben Brothers
- Seller: Denise Vohra & Dr. Ameet Vohra
- Buyer's Representative: Oren Alexander - Official
- Seller's Representative: Lisa Blake - Villazzo LLC
The buyers, connected to the Reuben Brothers investment firm, have been actively involved in South Florida real estate. In addition to the recent acquisition of the property on North Bay Road, the Reuben Brothers have previously made notable real estate transactions in the region, including the purchase of the Chesterfield Hotel in Palm Beach in 2022. They have also been associated with seeking foreclosure on the Zaha Hadid-designed One Thousand Museum.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93