Hillary S. Hoffman And Kenneth C. Hoffman Acquire Condo From Marjorie Berkley And William R. Berkley For $11.25M
2627 South Bayshore Drive, Apt 3001
$11,250,000
$1,625/SF
Building Size
6,920 SF
Asset Type
Condo
Closing
May 5, 2025
About this deal
AI
The property involved in this transaction is a condo located at 2627 South Bayshore Drive Unit 3001 in Miami, comprising 6,920 square feet. The asset was sold for $11,250,000, which reflects a price per square foot of $1,626. The condo is situated in the Grovenor House in Coconut Grove.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $11,250,000
- Square Footage: 6,920
- Price Per Square Foot: $1,626
- Buyer: Hillary S. Hoffman; Kenneth C. Hoffman - Azorra
- Seller: Marjorie Berkley; William R. Berkley - W.R. Berkley
- Buyer's Representative: Debra Flam - Coldwell Banker
- Seller's Representative: Liz Hogan - Compass
This transaction involved billionaire William R. Berkley and his wife selling their condo to Azorra executive Kenneth C. Hoffman and his wife. The deal, facilitated by the respective brokerage firms Coldwell Banker and Compass, resulted in a profit for the Berkleys following their purchase of the property for $8.6 million in 2014.
Players
Bay Shore Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $11.3M for 6,920 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93