Updated Dec 4, 2024
Sunlake Properties Miami Acquires Henrique Jordan's Sunset Islands Home For $27M
2501 Lake Avenue
$27,000,000
$4,988/SF
Building Size
5,413 SF
Asset Type
Single Family
Closing
Sep 26, 2023
About this deal
AI
A waterfront property located at 2501 Lake Avenue in Miami Beach has been sold for $27 million. The property, initially listed for $34.9 million, was purchased by Sunlake Properties Miami. Spanning 0.65 acres, the single-family home offers a total of 5,413 square feet of living space, featuring five bedrooms and seven bathrooms. The property boasts a pool and a dock, making it an idyllic retreat for water enthusiasts.
Summary of Transaction Details
- Property Type: Single Family
- Transaction Amount: $27,000,000
- Address: 2501 Lake Avenue
- Market: Miami Beach
- Acres: 0.65
Jill Hertzberg from The Jills Zeder Group at Coldwell Banker represented the buyer, Sunlake Properties Miami, in this transaction. On the other hand, Lourdes Alatriste from Douglas Elliman acted as the seller's representative. This deal is a significant milestone for both parties involved, showcasing their expertise in the Miami Beach real estate market. While the property was listed at a higher price initially, it was eventually sold for $27 million, demonstrating the negotiation skills and market knowledge of the buyer and sellers' representatives.
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93