Lauren Schrager & Toni Schrager Purchase Single Family Home In Miami For $6.1M
3630 Palmetto Avenue
$6,100,000
$1,501/SF
Building Size
4,064 SF
Asset Type
Single Family
Closing
Jun 12, 2024
AI
The recently sold property at 3630 Palmetto Avenue in Miami is a Single Family home spanning 4,064 square feet. The transaction concluded with a sale price of $6,100,000, slightly below the initial asking price of $6,150,000. This sale marked a noteworthy achievement, setting a record price per foot for a new construction dry home in Coconut Grove, with a price per square foot of $1,501.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $6,100,000
- Market: Miami
- Buyer: Lauren Schrager & Toni Schrager - Brown Harris Stevens
- Seller: Justin Drexler
- Seller's Representative: Brett Eaglstein & Eli Faitelson - Compass
The deal was facilitated by Lauren Schrager and Toni Schrager from Brown Harris Stevens, representing the buyers, while Brett Eaglstein and Eli Faitelson from Compass represented the seller, Justin Drexler. The successful transaction not only demonstrated a strong market value for the property but also highlighted the expertise and negotiation skills of the involved real estate professionals.
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93