NOT LISTED FOR SALE

347 Washington Ave Miami Beach, FL 33139

South Pointe Neighborhood
0.26 Acre
-- Price per Acre
11,140 Sq Ft Lot

Last Sold April 26, 2017

Last sale price $9,000,000 $808 Per Sq Ft

286 Days on Market

About This Lot

As of April 2017

SOBE HOTEL plus adjoining lot w/approved plans for development. Renovated Art Deco boutique hotel w/lobby cafe & 24 spa suites boasting steam showers w/multi-jet massage systems. Proposed plans will increase the room count to 41 keys w/a 44-seat restaurant, parking, & a rooftop swimming pool & sundeck. Income-producing property w/amazing upside in sought-after South of Fifth St, 2 blocks to the ocean, & steps from new, multimillion dollar developments. Exciting opportunity!

Last Agent to Sell the Property

Susan Gale

One Sotheby's International Re License #0394993 Listed on: 02/04/2016

One Sotheby's International Re

Last Buyer's Agent

Susan Gale

One Sotheby's International Re License #0394993 Listed on: 02/04/2016

One Sotheby's International Re

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $74,022

Lot Details

  • 0.26 Acre Lot
  • Property is zoned RPS-3

Location

  • City Lot

Community Details

  • No Home Owners Association
  • Ocean Beach Florida Condos
  • Ocean Beach Florida Subdivision

Listing and Financial Details

  • Assessor Parcel Number 02-42-03-003-0960

Property Details

Property Type

Land

Est. Annual Taxes

$74,022

Lot Details

0

Listing Details

  • Property Type: Commercial Land
  • Property Sub Type: Commercial
  • Directions: Washington Avenue between 3rd and 4th street
  • Horses: No
  • New Construction: No
  • Road Frontage Type: City/County Maintained
  • Structure Type: Commercial
  • Subdivision Name: Ocean Beach Florida
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Unknown/Withheld, Urban Commercial

Exterior Features

  • Lot Features: City Location, Other Lot Description
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: Ocean Beach Florida

Utilities

  • Sewer: Other
  • Water Source: Municipal Water
  • Utilities: Electricity Connected, Other Utilities Available, Electricity Available, Other

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel Number: 02-42-03-003-0960
  • Current Use: Unimproved Hotel/Motel
  • Lot Size Sq Ft: 11140
  • Zoning: RPS-3
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Year: 2015
  • Tax Annual Amount: 74022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 4, 2016
Closed on
Apr 26, 2017
Sold by
335 Washington Avenue Miami Beach Llc
Bought by
347 Washington Investment Llc
Seller's Agent
Susan Gale
One Sotheby's International Re
Buyer's Agent
Susan Gale
One Sotheby's International Re
List Price
$15,900,000
Sold Price
$9,000,000
Premium/Discount to List
-$6,900,000
-43.4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,600,000
Interest Rate
4.3%
Mortgage Type
Construction

Purchase Details

Closed on
May 23, 2014
Sold by
Camden Real Estate Opportunity Fund I Ll
Bought by
347 Washington Avenue Miami Beach Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,125,000
Interest Rate
4.32%
Mortgage Type
Commercial

Purchase Details

Closed on
May 9, 2008
Sold by
Lenis Alexandra M
Bought by
Aug Funding Llc

Purchase Details

Closed on
May 8, 2008
Sold by
Daley Dennis L and Daley Marlene Z
Bought by
Aug Funding Llc

Purchase Details

Closed on
May 25, 2007
Sold by
St Augustine Hotel Llc
Bought by
Aug Funding Llc

Purchase Details

Closed on
Dec 1, 2006
Sold by
St Augustine Hotel Llc
Bought by
Daley Dennis L and Daley Marlene Z

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$195,750
Interest Rate
7.37%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 28, 2006
Sold by
St Augustine Hotel Llc
Bought by
Lenis Alexandra M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$195,750
Interest Rate
7.37%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 26, 1998
Sold by
Pacheco Gali M and Pacheco Gloria C
Bought by
St Augustine Hotel Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$486,750
Interest Rate
7.21%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
347 Washington Investment Llc $5,750,000 Attorney
347 Washington Avenue Miami Beach Llc $4,997,100 Attorney
Aug Funding Llc $305,600 Attorney
Aug Funding Llc $237,300 Attorney
Aug Funding Llc $5,000,000 Attorney
Daley Dennis L $257,300 Palm Title & Escrow
Lenis Alexandra M $288,000 Palm Title & Escrow
St Augustine Hotel Inc $649,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed 347 Washington Investment Llc $5,600,000
Previous Owner 347 Washington Avenue Miami Beach Llc $3,125,000
Previous Owner Daley Dennis L $195,750
Previous Owner Lenis Alexandra M $216,000
Previous Owner St Augustine Hotel Inc $486,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/26/2017 04/26/17 Sold $9,000,000 -43.4% $808 / Sq Ft
10/25/2016 10/25/16 Pending -- -- --
01/13/2016 01/13/16 For Sale $15,900,000 -- $1,427 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $74,498 $3,830,000 $3,575,000 $255,000
2024 $69,577 $3,836,910 -- --
2023 $69,577 $3,488,100 $0 $0
2022 $67,641 $3,600,000 $3,575,000 $25,000
2021 $69,509 $3,600,000 $3,575,000 $25,000
2020 $79,374 $4,100,000 $3,575,000 $525,000
2019 $88,333 $4,600,000 $3,250,000 $1,350,000
2018 $80,858 $4,300,000 $2,600,000 $1,700,000
2017 $64,336 $2,843,500 $0 $0
2016 $62,769 $2,585,000 $0 $0
2015 $46,559 $2,350,000 $0 $0
2014 $42,666 $2,100,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Susan Gale

    Seller's Agent in 2017

    Susan Gale

    One Sotheby's International Re

    (202) 770-8386

    2 in this area

    23 Total Sales

    Susan Gale
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Map

Source: MIAMI REALTORS® MLS

MLS Number: A10027825

MIAMI REALTORS® MLS

APN: 02-4203-003-0960

Florida Miami/Dade County Miami Beach 33139 South Pointe

347 Washington Ave, Miami Beach, FL

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