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2140 South Miami Avenue

Michael Coyn Purchases Single Family Home In Miami For $5.25M
SOLDSingle Family

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

Ashley Alvarez

Sterling One Realty

Broker

$34.6M

vol

6 deals

Broker

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