Michael Coyn Purchases Single Family Home In Miami For $5.25M
2140 South Miami Avenue
$5,250,000
$1,026/SF
Building Size
5,116 SF
Asset Type
Single Family
Closing
May 16, 2024
AI
The single-family property located at 2140 South Miami Avenue in Miami was sold for $5,250,000 on 05/16/2024. The asset spans 5,116 square feet, resulting in a price per square foot of $1,026. The transaction involved Michael Coyn as the buyer and Dan Sorescu of Luxe Rentals Investments as the seller. The brokerage representation was provided by Ashley Alvarez and William Alvarez of Sterling One Realty.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $5,250,000
- Market: Miami
- Buyer: Michael Coyn
- Seller: Dan Sorescu - Luxe Rentals Investments
- Brokers: Ashley Alvarez & William Alvarez - Sterling One Realty
William Alvarez and Ashley Alvarez from Sterling One Realty facilitated the transaction, ensuring a successful deal between the buyer and seller in the Miami market. Their expertise and professionalism played a crucial role in finalizing the sale of this impressive residential property.
Players
Miami 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