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Kevin Love Acquires $9.5M Coconut Grove Spec Home Via Morgan Stanley Financing

Property Image
SOLD
$9,500,000
Eli Faitelson
Brett Eaglstein
KL

Florida

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Single Family6,400 SF
Sold 01/05/2024
the dealplayerscompscontact
Property Image
SOLD

Kevin Love Acquires $9.5M Coconut Grove Spec Home Via Morgan Stanley Financing

Single Family6,400 SF
Sold 01/05/2024
Eli Faitelson
Brett Eaglstein
KL
the dealplayerscompscontact
Contact now

Summary

Asset Type:Single Family
Price Per Square Foot:$1,484
Total Square Footage:6,400 SF
Transaction Type:Sale

Summary of transation details

  • Property Type: Single Family
  • Transaction Amount: $9,500,000
  • Market: Coconut Grove
  • Asset Type: Single Family
  • Buyer: Kate Love & Kevin Love
  • Seller: Carlos Fontecilla & Justin Drexler
  • Brokers: Brett Eaglstein & Eli Faitelson - Compass
  • Lender: Morgan Stanley
  • Square Footage: 6,400
  • Price per Square Foot: $1,484

Players

Brett Eaglstein
Compass
Brett Eaglstein
21 deals$154.9M volume
BROKER
Eli Faitelson
Compass
Eli Faitelson
13 deals$92.1M volume(305) 733-4899
BROKER
KL
Kevin Love
3 deals$12.9M volume
BUYER
Morgan Stanley
Morgan Stanley
LENDER

Details

SOLD
IMAGE: Brett Eaglstein, Kate Love, Kevin Love & Eli Faitelson DATE: 01/05/2024 MARKET: Coconut Grove ASSET TYPE: Single Family BUYER: Kate Love (@KateLove) & Kevin Love (@KevinLove) SELLER: Carlos Fontecilla & Justin Drexler BROKERS: Brett Eaglstein (@BrettEaglstein) & Eli Faitelson (@Bookofeli_f) - Compass (@Compass) LENDER: Morgan Stanley (@Morgan.Stanley) SALE PRICE: $9,500,000 SF: 6,400 ~ PPSF: $1,484 NOTE: Miami Heat's NBA All-Star Kevin Love and his wife purchased a $9.5 million, 6,400-square-foot spec home in Coconut Grove, Miami. Financed with a $6.1 million mortgage from Morgan Stanley, the property includes seven bedrooms, seven bathrooms, a wine cellar, and a pool.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$506,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16