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2700 North Bay Road, Miami ...

Paul Morelli Acquires $17.5M Single Family Home At 2700 North Bay Road, Miami Beach
SOLDSingle Family

Paul Morelli Acquires $17.5M Single Family Home At 2700 North Bay Road, Miami Beach

2700 North Bay Road, Miami Beach, FL, USA

$17,500,000

$1,730/SF

Building Size

10,114 SF

Asset Type

Single Family

Closing

Apr 13, 2021

AI

A single-family property located at 2700 North Bay Road in Miami Beach has been sold in a recent transaction. The property spans 10,114 square feet and was sold for a price of $17,500,000, resulting in a price per square foot of $1,730. The transaction took place on April 13, 2021.

Summary of transaction details

The buyer of the property is Paul Morelli. On the selling side, the property was owned by Corinne Puig and Louis J. Puig through LP Holding. The deal was facilitated by Julian Johnston from The Corcoran Group, acting as the broker.

Players

Julian Johnston

The Corcoran Group

Broker

$777.3M

vol

55 deals

Broker
Paul Morelli

Paul Morelli

Buyer

$72.2M

vol

5 deals

Buyer

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

0.91%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93