Updated Oct 29, 2024
OLEC Residential Trust Acquires Miami Beach Single Family For $11.2M With Broker Representatives Oliver Lloyd, Bill Hernandez & Bryan Sereny
Miami Beach, FL, USA
$11,200,000
$1,207/SF
Building Size
9,278 SF
Asset Type
Single Family
Closing
Oct 4, 2021
About this deal
AI
OLEC Residential Trust has acquired a Single Family property in Miami Beach for a sale price of $11,200,000. The property, owned by Sylvia Montelongo Moss, spans across 9,278 square feet and is situated on a 20,000 square foot lot. With a price per square foot of $1,207 for the interior space and $560 for the overall lot, this transaction showcases the value of the property in the market.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $11,200,000
- Square Footage: 9,278 (Interior), 20,000 (Lot)
- Price per Square Foot: $1,207 (Interior), $560 (Lot)
- Market: Miami Beach
The purchase was facilitated by Oliver Lloyd, Bill Hernandez, and Bryan Sereny, who represented OLEC Residential Trust as the buyer's brokers. On the seller's side, Sylvia Montelongo Moss handled the transaction herself. This successful deal demonstrates the expertise and professionalism of the brokers involved, showcasing their ability to close significant transactions in the Miami Beach market.
On the Map
$11,200,000
$1,207/SF
Single Family
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Players
Miami 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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93