Updated Oct 29, 2024
Justin F. Korsant's Long Light Capital Acquires Miami Beach Single Family For $19M
Miami Beach, Miami, Florida 33125, United States
$19,000,000
$3,549/SF
Building Size
5,353 SF
Asset Type
Single Family
Closing
Dec 23, 2021
About this deal
AI
A single family property in Miami Beach has been sold for $19,000,000. The property spans 5,353 square feet, resulting in a price per square foot of $3,549. The transaction took place on December 23, 2021.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $19,000,000
The buyer in this transaction is Justin F. Korsant, representing Long Light Capital. The seller is Siobhan Sutcliffe and Mark D. Sutcliffe, who are associated with Greybridge Equity Partners. Assisting in the deal was Miltiadis Kastanis from Douglas Elliman, who served as the broker.
NOTE:All parties involved in this transaction played a significant role in closing the deal, and their expertise contributed to the successful outcome.
On the Map
$19,000,000
$3,549/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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93