KC Property Holdings Land Trust Acquires Miami Beach Single Family Home For $27.5M
50 West Dilido Drive
$27,500,000
$5,184/SF
Building Size
5,304 SF
Asset Type
Single Family
Closing
Nov 24, 2024
AI
A single-family home located at 50 West Dilido Drive in the Miami Beach market has been sold for $27.5 million. The property spans 5,304 square feet and has a price per square foot of $5,185. The home was built in 1931 and is situated on the Venetian Islands, indicating its waterfront location and appeal amid rising property values.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $27,500,000
- Address: 50 West Dilido Drive
- Market: Miami Beach
- Sale Price: $27,500,000
- Square Footage: 5,304
- Price per Square Foot: $5,185
- Buyer: KC Property Holdings Land Trust
- Seller: The Diane Star Heller Residential Trust
- Buyer's Representative: Karen Stauber - Coldwell Banker
- Seller's Representative: Nancy Batchelor - Compass
The late educator Diane Heller's family executed the sale in an off-market deal. A notable aspect of the transaction is that it reflects the increasing appeal of Miami Beach to ultra-wealthy buyers.
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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93