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5300 North Bay Road

Keith Menin Acquires Single Family Home In Miami Beach For $16.1M
SOLDSingle Family

Keith Menin Acquires Single Family Home In Miami Beach For $16.1M

5300 North Bay Road

$16,118,750

$2,903/SF

Building Size

5,552 SF

Asset Type

Single Family

Closing

Apr 19, 2024

AI

The recently sold property at 5300 North Bay Road in Miami Beach is a 5,552-square-foot single-family home situated on a 0.29-acre lot. The transaction involved a sale price of $16,118,750, equating to a price per square foot of $2,903. The impressive waterfront mansion was acquired by Keith Menin of Menin Hospitality, with the seller represented by Daniel Hertzberg of Jills Zeder Group - Coldwell Banker and the buyer represented by Evelyn Castro Menin of Luxe Living Realty.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $16,118,750
  • Address: 5300 North Bay Road
  • Market: Miami Beach
  • Buyer: Keith Menin - Menin Hospitality
  • Buyer's Rep: Evelyn Castro Menin - Luxe Living Realty
  • Seller's Rep: Daniel Hertzberg - Jills Zeder Group - Coldwell Banker
  • Square Footage: 5,552
  • Price per Square Foot: $2,903

Keith Menin, the leader of Menin Hospitality, made a significant investment by purchasing the waterfront property in Miami Beach. The seller, represented by Daniel Hertzberg, helped facilitate the transaction, highlighting the demand for prime waterfront properties in the area. Evelyn Castro Menin, from Luxe Living Realty, played a crucial role in assisting Keith Menin in acquiring the stunning property at 5300 N. Bay Road, adding another valuable asset to their hospitality portfolio.

Players

Daniel Hertzberg

Coldwell Banker

Broker

$1.7B

vol

67 deals

Broker

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

0.98%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93