SOLDSingle Family
Michelle Simkins & Jason Rubell Acquire Miami Beach Single Family For $10.8M
Miami Beach, FL, USA
$10,800,000
$1,627/SF
Building Size
6,637 SF
Asset Type
Single Family
Closing
Nov 2, 2021
AI
A single-family property located in Miami Beach was recently sold for a price of $10,800,000. The property spans across approximately 0.4 acres and offers a total of 6,637 square feet of living space. Michelle Simkins and Jason Rubell, representing Rubell Hotels, acted as the buyers in this transaction, while Phyllis and Dr. Philip Mirmelli were the sellers. The buyer's representative in the deal was Brett Harris from Douglas Elliman, and Greg Mirmelli served as the seller's representative.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $10,800,000
- Market: Miami Beach
- Total Acres: 0.4
- Square Footage: 6,637
- Buyer: Michelle Simkins; Jason Rubell - Rubell Hotels
- Seller: Phyllis & Dr. Philip Mirmelli
- Buyer's Representative: Brett Harris - Douglas Elliman
- Seller's Representative: Greg Mirmelli
- Price Per Square Foot: $1,627
This transaction involved notable individuals and companies in the real estate industry. Michelle Simkins and Jason Rubell, representing Rubell Hotels, made the purchase, bringing their expertise and experience in hospitality to the acquisition. Phyllis and Dr. Philip Mirmelli were the sellers of the property, undoubtedly satisfied with the sale price and the expertise of their representative, Greg Mirmelli. Brett Harris, from Douglas Elliman, played a crucial role as the buyer's representative, ensuring a smooth and successful transaction.
Players
Miami 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93