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40 West San Marino Drive

Mindy Templeton Of KC Property Holdings Purchases Waterfront Home From Scott Reynolds And Doreane DiGiacomo For $22.75M
SOLDSingle Family

Mindy Templeton Of KC Property Holdings Purchases Waterfront Home From Scott Reynolds And Doreane DiGiacomo For $22.75M

40 West San Marino Drive

$22,750,000

$4,531/SF

Building Size

5,020 SF

Asset Type

Single Family

Closing

Jan 21, 2025

AI

The property at 40 West San Marino Drive, located in the Miami Beach market, features a waterfront single-family home encompassing 5,020 square feet. This asset, occupying 0.2 acres, was sold for $22,750,000. The five-bedroom residence was originally listed in 2023 for $26.5 million before undergoing a price reduction and being temporarily pulled off the market. It was re-listed earlier this month for $23.5 million, selling the same day.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $22,750,000
  • Address: 40 West San Marino Drive
  • Market: Miami Beach
  • Square Footage: 5,020
  • Price Per Square Foot: $4,532
  • Buyer: Mindy Templeton - KC Property Holdings
  • Seller: Scott Reynolds & Doreane DiGiacomo
  • Buyer's Representative: Karen Stauber - Jills Zeder Group - Coldwell Banker Realty
  • Seller's Representative: Julian Johnston - The Corcoran Group

Scott Reynolds and Doreane DiGiacomo's decision to sell their home was a part of a series of high-end transactions in Miami Beach, with recent notable sales including a $15.5 million transaction by Colgate Darden IV and a $13.5 million purchase by Shark Tank investor Rohan Oza.

Players

Julian Johnston

The Corcoran Group

Broker

$777.3M

vol

55 deals

Broker

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

0.70%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93