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Michelle Simkins & Jason Rubell Acquire Miami Beach Single Family For $10.8M

Property Image
SOLD
$10,800,000
Brett Harris
+ 1

Florida

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Single Family6,637 SF
Sold 11/02/2021
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Property Image
SOLD

Michelle Simkins & Jason Rubell Acquire Miami Beach Single Family For $10.8M

Miami Beach, FL, USA

See Similar Deals
Single Family6,637 SF
Sold 11/02/2021
Brett Harris
+ 1
Contact now

Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$1,627
Total Square Footage:6,637 SF
Transaction Type:Sale

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

Brett Harris
16 deals$590M volume(305) 764-9401
BROKER

Greg Mirmelli
2 deals$23.8M volume
BROKER


3 deals$29.6M volume
BUYER

3 deals$29.6M volume
BUYER

Details

SOLD
IMAGE: Michelle Simkins, Jason Rubell & Brett Harris DATE: 11/02/2021 MARKET: Miami Beach ASSET TYPE: Single Family ~ ACRES: 0.4 BUYER: Michelle Simkins; Jason Rubell - Rubell Hotels SELLER: Phyllis & Dr. Philip Mirmelli BUYER'S REP: Brett Harris - Douglas Elliman SELLER'S REP: Greg Mirmelli SALE PRICE: $10,800,000 SF: 6,637 ~ PPSF: $1,627

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$38,370.12
Cash-on-Cash Return-1.27%
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