Updated Dec 4, 2024
Teddy Sagi Purchases Waterfront Estate On Pine Tree Drive In Miami Beach For $23.8M
4521 Pine Tree Drive
$23,800,000
$2,800/SF
Building Size
8,500 SF
Asset Type
Single Family
Closing
Dec 3, 2024
About this deal
AI
This transaction involves a single-family waterfront estate located at 4521 Pine Tree Drive in Miami Beach. The property sold for $23,800,000 and has a total square footage of 8,500, resulting in a price per square foot of $2,800.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $23,800,000
- Address: 4521 Pine Tree Drive
- Market: Miami Beach
- Square Footage: 8,500
- Price Per Square Foot: $2,800
- Buyer: Teddy Sagi
- Buyer’s Representatives: Nelson Gonzalez - Berkshire Hathaway HomeServices EWM Realty; Sheerelle Toledano - Douglas Elliman
- Seller’s Representatives: Chava Feigen & Saddy Abaunza Delgado - One Sotheby's International Realty
The buyer, Israeli billionaire Teddy Sagi, plans to demolish the existing mansion and construct a new 20,000-square-foot home on the property. This transaction is significant as it illustrates the increasing demand for larger real estate assets in the luxury market of Miami Beach.
On the Map
$23,800,000
$2,800/SF
Single Family
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Players
Miami Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $2.8K per square foot on a published $23.8M for 8,500 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93