Miami Beach, FL 33140
Bedrooms
Bathrooms
Area
This property is located in the town of Surfside, FL, a beautiful oceanfront community in South Florida. Surfside has an attractive residential neighborhood and is located close by to its charming business district. The home was built in 1946 and is currently undergoing a completely new construction while incorporating key architectural concepts such as simplicity, efficient design, and purposeful materials. Once new construction is complete the property will be 4,050 square feet in total, with 6 bedrooms and 4 and a half baths. The design is derived from programmatic efficiency (emphasized by the architectural elements of planes and volumes), climate response (with nearly all windows facing north away from solar heat and radiation) and an appreciation of the surrounding neighborhood (by re-interpreting the appeal of a quaint, small-scale home, which steps away from the street, with the demands of modern life)..
| Home Size | 3,950 SF |
| Estimated Sale Price/SF (base case) | $1,075 |
| Total Estimated Sale Price | $11,825,000 |
| Total Development Costs | $1,902,500 |
| Estimated Profit | $9,922,500 |
| Uses | $ | % | PSF |
| Land | $1,800,000 | 42.55% | $456 |
| Construction Costs | $1,902,500 | 44.97% | $482 |
| Financing & Closing | $275,000 | 6.50% | $70 |
| Taxes & Other | $253,000 | 5.98% | $64 |
| Total | $4,230,500 | 100.00% | $1,071 |
| Sources | $ | % |
| Loan | $3,147,125 | 78.57% |
| Equity | $858,375 | 21.43% |
| Total | $4,005,500 | 100.00% |
