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About
3162 Commodore Plaza, Coconut Grove, FL
THE WAY TO LIVE WORK WELL URBIN is designed to address the needs of today’s residents, fostering creativity and connection through design-forward residences, an amenity program focused on wellness, and social programming that fosters community. THE OWNERSHIP PROGRAM The leaseback agreement equates to a 7% annual triple net return based on the purchase price. • Initial leaseback term of five years, 5 year option to renew at developer option. • Owner retains right to use their unit for up to 90 nights per year. • For every 30 days of use the return drops by 1% for that year. • Staff services and maintains units avoiding the need for self-management. • Instant access to socially curated events (happy hours, movie nights) and priority access to public amenities. • Residences are a part of a managed extended stay rental program when not in use by the owner. 1. I If Client uses unit 0 Days, Net Leaseback program is 7% 2. If Client uses unit from 1-30 Days, Net Leaseback program goes down to 6% 3. If Client uses unit from 31- 60 Days, Net Leaseback program goes from to 5% 4. If Client uses unit from 61-90 Days, Net Leaseback program goes from to 4%
$440K – $795K
: $1.00 per Sq.Ft. and as the units will be in rental program (master lease), HOA is covered by Urbin under 7% return w triple net.
331–2,352 ft²
50% of purchase price required at contract/ optional any amount above 50%
7% Interest on Deposits during construction – Credited at closing from balance owed.
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Highlights