Updated Dec 4, 2024
John Cheim Buys Single Family Home In Miami Beach For $5.195M
5959 La Gorce Drive
$5,195,000
$1,182/SF
Building Size
4,394 SF
Asset Type
Single Family
Closing
Jun 10, 2024
About this deal
AI
The single-family property located at 5959 La Gorce Drive in Miami Beach was sold in a recent transaction. The property spans 4,394 square feet and was sold for $5,195,000, translating to a price per square foot of $1,182. The transaction took place on 06/10/2024 with John Cheim acquiring the property from John Ruggiero.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $5,195,000
- Address: 5959 La Gorce Drive
- Market: Miami Beach
- Seller: John Ruggiero
- Seller's Rep: Nancy Batchelor & Nesti Mendoza - Compass; Clifford Berman - Berger Realty Group
- Buyer: John Cheim
- Asking Price: $5,390,000
- SF: 4,394
- PPSF: $1,182
The transaction was facilitated with Nancy Batchelor and Nesti Mendoza from Compass, along with Clifford Berman from Berger Realty Group representing the seller. John Cheim was represented by his broker in the deal, which concluded successfully, marking an important exchange in the Miami Beach real estate market.
On the Map
$5,195,000
$1,182/SF
Single Family
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Players
Miami Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.2K per square foot on a published $5.2M for 4,394 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93