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Amit Raizada Of Spectrum Business Ventures Sells Miami Beach Single Family Home For $20.95M

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SOLD
$20,950,000

Florida

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Single Family5,562 SF
Sold 02/03/2025
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SOLD

Amit Raizada Of Spectrum Business Ventures Sells Miami Beach Single Family Home For $20.95M

240 West Rivo Alto Drive

See Similar Deals
Single Family5,562 SF
Sold 02/03/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,766
Total Square Footage:5,562 SF
Transaction Type:Sale

The asset involved in this transaction is a single-family home located at 240 West Rivo Alto Drive in the Miami Beach market. The property spans 5,562 square feet and is listed at a price of $20,950,000, which results in a price per square foot of $3,767.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $20,950,000
  • Address: 240 West Rivo Alto Drive
  • Market: Miami Beach
  • Square Footage: 5,562
  • Price per Square Foot: $3,767
  • Seller: Amit Raizada - Spectrum Business Ventures
  • Broker: Dina Goldentayer - Douglas Elliman

Amit Raizada, known for his previous role as an investor in Echo Fox and as the CEO of Spectrum Business Ventures, has successfully secured an undisclosed buyer for his spec home in the Venetian Islands. Last week, Miami-Dade saw a total of 14 luxury contracts signed, amounting to an asking volume of $112.2 million, with single-family homes averaging $8.4 million.

Players

Dina Goldentayer
Douglas Elliman
Dina Goldentayer
91 deals$1.6B volume(786) 277-7539
BROKER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Dina Goldentayer & Amit Raizada DATE: 02/03/2025 ADDRESS: 240 West Rivo Alto Drive MARKET: Miami Beach ASSET TYPE: Single Family SELLER: Amit Raizada - Spectrum Business Ventures BROKER: Dina Goldentayer (@GoldenDina) - Douglas Elliman (@DouglasElliman) PRICE: $20,950,000 SF: 5,562 ~ PPSF: $3,767 NOTE: Amit Raizada, former Echo Fox investor and CEO of Spectrum Business Ventures, found an undisclosed buyer for his 5,562-square-foot Venetian Islands spec home, listed for nearly $21 million. Miami-Dade saw 14 luxury contracts signed last week, totaling $112.2 million in asking volume, with single-family homes averaging $8.4 million and condos averaging $7.6 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,117,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,430.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,313.69
Annual Debt Service$1,191,764.26