Barry Diller Acquires Bruce Beal Jr.'s $45M North Bay Road Property
5930 North Bay Road
$45,000,000
$3,308/SF
Building Size
13,600 SF
Asset Type
Single Family
Closing
Feb 20, 2024
AI
The waterfront North Bay Road property in Miami Beach has been put under contract for a record $45 million. Spanning 1.5 acres, the property was previously the site of the Whitehall Mansion. The transaction equated to a price of $3,309 per square foot and involved the sale between seller Bruce Beal Jr. from Related Companies and buyer Barry Diller.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $45,000,000
- Address: 5930 North Bay Road
- Market: Miami Beach
- SF: 13,600
- BUYER: Barry Diller
- SELLER: Bruce Beal Jr. - Related Companies
The buyer's representatives involved in the deal were Brett Harris from Douglas Elliman, as well as Marko Gojanovic and Reid Heidenry from Sotheby's International Realty. On the other side, Mick Duchon from The Corcoran Group represented the seller.
Players
Miami 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93