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MKP Capital Management Acquires Residential Land In Coral Gables For $18M

8525 Old Cutler Road
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This Co-Op property located in FL was sold for $18,000,000 about 3 years ago. The brokers of the deal were Ann Nortmann and John Sandberg

Located in Coral Gables, the property at 8525 Old Cutler Road has been recently sold. The residential land, spanning an area of 3.51 acres, was the subject of this transaction. The sale was finalized on January 13, 2021, with a purchase price of $18,000,000. The property was initially listed for $24,000,000, resulting in a significant price reduction.

Summary of Transaction Details

  • Property Type: Land (Residential)
  • Transaction Amount: $18,000,000
  • Address: 8525 Old Cutler Road
  • Market: Coral Gables

Representing the buyer, Kristen McMahon and Patrick McMahon of MKP Capital Management acquired the property. On the other hand, Ashar Aziz acted as the seller in this deal. The transaction was facilitated by John Sandberg and Ann Nortmann of Douglas Elliman, who served as the brokers in the transaction.

With the sale of this residential land in Coral Gables, a significant transaction has taken place. The property, located at 8525 Old Cutler Road, was purchased for $18,000,000 by Kristen McMahon and Patrick McMahon of MKP Capital Management. Ashar Aziz acted as the seller in this deal. The transaction was overseen by brokers John Sandberg and Ann Nortmann from Douglas Elliman.

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Deals
  • Location
    8525 Old Cutler Road, Coral Gables, FL, USA8525 Old Cutler Road, Coral Gables, FL, USA
  • Sale Price
    $18,000,000$18,000,000
    $439,024 PPSF$439,024 PPSF
  • Area
    41 SF41 SF
  • Asset Type
    Co-OpCo-Op
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

John Sandberg

John Sandberg

Deals2
Sold$23.5M

Agency

Douglas Elliman

Douglas Elliman

Agency
Deals1571
Volume$18.3B

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Deal Summary

SALE IMAGE: John Sandberg, Ashar Aziz, & Patrick McMahon DATE: 01/13/2021 ADDRESS: 8525 Old Cutler Road MARKET: Coral Gables ASSET TYPE: Land (Residential) BUYER: Kristen McMahon, Patrick McMahon - MKP Capital Management SELLER: Ashar Aziz BROKERS: John Sandberg & Ann Nortmann - Douglas Elliman ASKING PRICE: $24,000,000 PRICE: $18,000,000 ACRES: 3.51 ~ PPA: $5,142,857

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8525 Old Cutler Road

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