French Montana Purchases Oceanfront Home In Golden Beach For $22 Million With Financing From Amerant Bank
469 Ocean Boulevard
$22,000,000
$2,997/SF
Building Size
7,340 SF
Asset Type
Single Family
Closing
Oct 18, 2024
AI
The property asset involved in the transaction is a single-family home located at 469 Ocean Boulevard in the market of Golden Beach. The sale price was $22,000,000, and the property encompasses 7,340 square feet with an average price per square foot of $2,997. The property sits on a 0.32-acre lot and includes five bedrooms.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $22,000,000
- Buyer: French Montana
- Seller: Daniel Gonzalez - Glamorous Life Cosmetic Surgery
- Buyer's Representative: Jordan Karp - Jordan Karp LLC
- Seller's Representatives: Alejandro Victores & Alexander Goldstein - Miles Goldstein Real Estate
- Lender: Amerant Bank
- Mortgage Amount: $16,500,000
Key individuals involved in the transaction include the buyer, French Montana, and the seller, Daniel Gonzalez, who is known for his work in the cosmetic surgery industry. The deal was facilitated with the help of representatives, with Jordan Karp acting on behalf of the buyer, while Alejandro Victores and Alexander Goldstein represented the seller in the transaction.
Players
Golden Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93