Updated Mar 17, 2025
Ricardo Halfen And Matthew Rosenblatt Acquire Waterfront Mansion In Miami For $21 Million
4355 Sabal Palm Road
$21,000,000
$2,523/SF
Building Size
8,322 SF
Asset Type
Single Family
Closing
Mar 14, 2025
About this deal
AI
A waterfront Bay Point mansion located at 4355 Sabal Palm Road in Miami was sold for $21,000,000. The property spans 8,322 square feet and is situated on 0.82 acres of land, equating to a price per square foot of $2,523. The home was last sold for $11.2 million in 2020 and underwent renovations in 2023.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $21,000,000
- Buyer: Ricardo Halfen - Trio Construction & Matthew Rosenblatt - 2151 Development Group
- Seller: Richard Lee Krelstein
- Lender: Amerant Bank
- Loan Amount: $13,500,000
Spec developers Ricardo Halfen and Matthew Rosenblatt completed the acquisition of the property. The transaction highlights the involvement of Amerant Bank, which provided financing for the purchase of the home.
On the Map
$21,000,000
$2,523/SF
Single Family
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Players
Miami Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $2.5K per square foot on a published $21M for 8,322 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93