Justin F. Korsant's Long Light Capital Acquires Miami Beach Single Family For $19M
SOLD
$19,000,000
Florida
See Similar DealsSingle Family5,353 SF
Sold 12/23/2021
SOLD
Justin F. Korsant's Long Light Capital Acquires Miami Beach Single Family For $19M
Miami Beach, Miami, Florida 33125, United States
See Similar DealsSingle Family5,353 SF
Sold 12/23/2021
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,549
Total Square Footage:5,353 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,013,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32
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