Babba Yesharim Acquires Miami Beach Mansion From Daniel Gryfe For $18M
4411 Pine Tree Drive
$18,000,000
$1,410/SF
Building Size
12,761 SF
Asset Type
Single Family
Closing
Mar 12, 2024
AI
A single-family property spanning 0.9 acres located at 4411 Pine Tree Drive in Miami Beach was sold in a transaction. The property, with a total of 12,761 square feet, was acquired for $18,000,000 at a price per square foot of $1,411. The seller of the property was Daniel Gryfe, while the buyer was Babba Yesharim, the CEO of Riverside District Development.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $18,000,000
- Address: 4411 Pine Tree Drive
- Market: Miami Beach
- Buyer: Babba Yesharim - Riverside District Development
- Seller: Daniel Gryfe
- Buyer's Representative: Babba Mehrpouyan - Beachfront Realty
- Seller's Representative: Mendel Fellig - Compass
- Square Footage: 12,761
- Price per Square Foot: $1,411
The sale of the property marked a significant 46% gain from its 2021 sale price, indicating a robust demand for luxury homes in the Miami Beach area. Daniel Gryfe's firm facilitated the transaction, showcasing the consistent demand for high-end properties in the region. The involvement of Babba Yesharim, the CEO of Riverside District Development, highlights the interest of prominent individuals in acquiring luxury real estate in sought-after locations.
Players
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93