Deep Instinct Acquires $26M Venetian Islands Single Family Property In Miami Beach
SOLD
$26,000,000
Florida
See Similar DealsSingle Family6,800 SF
Sold 12/20/2022
SOLD
Deep Instinct Acquires $26M Venetian Islands Single Family Property In Miami Beach
70 West San Marino Drive
See Similar DealsSingle Family6,800 SF
Sold 12/20/2022
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,823
Total Square Footage:6,800 SF
Transaction Type:Sale
The property involved in this transaction is a single family home located at 70 West San Marino Drive in the Venetian Islands of Miami Beach. It sits on 0.2 acres of land. The sale took place on 20th December 2022.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $26,000,000
- Square Footage: 6,800
- Price per Square Foot: $3,824
- Address: 70 West San Marino Drive
- Market: Venetian Islands, Miami Beach
The buyer in this transaction is Deep Instinct, represented by Lane Bess. The seller is Barry Brodsky. Abraham Ash from Multivest Realty served as the buyer's representative, while Jill Hertzberg from The Jills Zeder Group - Coldwell Banker Realty acted as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17
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