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Miami Beach, Miami, Florida...

Justin F. Korsant's Long Light Capital Acquires Miami Beach Single Family For $19M
SOLDSingle Family

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

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.

Players

Mark Sutcliffe

Redzone

Seller

$66.9M

vol

4 deals

Seller

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