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690 Solano Prado

Ana Teresa Rodriguez & Virginia Aizpurua Of ATR Luxury Homes Group Represent Seller In $10.825M Coral Gables Sale
SOLDSingle Family

Ana Teresa Rodriguez & Virginia Aizpurua Of ATR Luxury Homes Group Represent Seller In $10.825M Coral Gables Sale

690 Solano Prado

$10,825,000

$3,624/SF

Building Size

2,987 SF

Asset Type

Single Family

Closing

Nov 15, 2024

AI

The property asset involved in the transaction is a single-family home located at 690 Solano Prado in Coral Gables. It encompasses 2,987 square feet of living space and sits on 0.72 acres of land. The sale price for this property was $10,825,000, with a price per square foot of $3,624. Notably, the property features a canal-front location with direct access to Biscayne Bay and includes a T-shaped dock, making it suitable for future luxury development.

Summary of transaction details:

The deal was represented by Michael Martinez from One Sotheby's International Realty for the buyer and Ana Teresa Rodriguez and Virginia Aizpurua from ATR Luxury Homes Group at Coldwell Banker for the seller. The transaction is noted for setting a record for older home sales in the Old Cutler Bay neighborhood, highlighting the desirability of the area.

Players

Michael Martinez

Sotheby's International Realty

Broker

$143.3M

vol

19 deals

Broker

Coral Gables 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

1.47%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93