Kim Ng Sells Coconut Grove Home At $4.46M In Miami Deal
3901 Kumquat Avenue
$4,460,000
$1,318/SF
Building Size
3,383 SF
Asset Type
Single Family
Closing
Apr 23, 2024
AI
The single-family property located at 3901 Kumquat Avenue in Miami was sold for $4,460,000. The 3,383 square-foot home was purchased by Kim Ng and Tony Markward, who made a profit of $1,260,000 following renovations that included a new kitchen and flooring.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $4,460,000
- Market: Miami
- Acres: 0.26
- Seller: Kim Ng; Tony Markward - Silas Wines
- Buyer's Rep: Gina Gardner - Engel & Völkers
- Seller's Rep: Monica Betancourt - Berkshire Hathaway HomeServices EWM Realty
- SF: 3,383
- PPSF: $1,318
The transaction was facilitated by Gina Gardner of Engel & Völkers and Monica Betancourt of Berkshire Hathaway HomeServices EWM Realty. Kim Ng, the former general manager of the Miami Marlins, sold the property for its asking price, achieving a successful real estate investment.
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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93