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French Montana Purchases Oceanfront Home In Golden Beach For $22 Million With Financing From Amerant Bank

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SOLD
$22,000,000

Florida

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Single Family7,340 SF
Sold 10/18/2024
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Property Image
SOLD

French Montana Purchases Oceanfront Home In Golden Beach For $22 Million With Financing From Amerant Bank

469 Ocean Boulevard

See Similar Deals
Single Family7,340 SF
Sold 10/18/2024
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$2,997
Total Square Footage:7,340 SF
Transaction Type:Sale

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:

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

Alexander Goldstein
26 deals$281.6M volume
BROKER

Jordan Karp
51 deals$707.7M volume(305) 610-1689
BROKER

Alejandro Victores
Miles Goldstein Real Estate
1 deal$22M volume(305) 336-6959
BROKER

Amerant Bank
LENDER

Details

SOLD
IMAGE: French Montana, Jordan Karp, Alexander Goldstein & Alejandro Victores DATE: 10/18/2024 ADDRESS: 469 Ocean Boulevard MARKET: Golden Beach ASSET TYPE: Single Family ~ ACRES: 0.32 BUYER: French Montana (@FrenchMontana) SELLER: Daniel Gonzalez - Glamorous Life Cosmetic Surgery BUYER'S REP: Jordan Karp (@JayKarp) - Jordan Karp LLC (@JordanKarpLLC) SELLER'S REP: Alejandro Victores (@AlexV_TheRealtor) & Alexander Goldstein (@MrAlexGoldstein) - Miles Goldstein Real Estate (@MilesGoldstein_RealEstate) LENDER: Amerant Bank (@AmerantBank) SALE PRICE: $22,000,000 SF: 7,340 ~ PPSF: $2,997 NOTE: Rapper French Montana bought a 7,340-square-foot oceanfront home in Golden Beach for $22 million, with financing from a $16.5 million mortgage through Amerant Bank. The five-bedroom property, previously owned by Tom Joyner and recently sold by cosmetic surgery entrepreneur Daniel Gonzalez, was represented by Alexander Goldstein and Alejandro Victores for the seller and Jordan Karp for the buyer.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,161.35
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