Marcia & Stephen F. Sullivan Sell Condo In Palm Beach For $10.77M
$10,770,000
SOLD
$10,770,000
Florida
See Similar Deals6,569 SF
Sold 11/07/2020
$10,770,000
SOLD
Marcia & Stephen F. Sullivan Sell Condo In Palm Beach For $10.77M
221 Royal Poinciana Way, Palm Beach, FL, USA
See Similar Deals6,569 SF
Sold 11/07/2020
Summary
FLORIDA
Price Per Square Foot:$1,639
Total Square Footage:6,569 SF
Transaction Type:Sale
This transaction involves a condo located at 221 Royal Poinciana Way, Palm Beach, with a sale price of $10,770,000. The property encompasses a total of 6,569 square feet, resulting in a price per square foot of $1,639.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $10,770,000
- Address: 221 Royal Poinciana Way, Palm Beach
- Square Footage: 6,569
- Price per Square Foot: $1,639
- Seller: Marcia & Stephen F. Sullivan
- Buyer's Representative: Todd Peter - Sotheby's Intl. Realty, Inc.
- Seller's Representative: Suzanne Trapani Frisbie - Premier Estate Properties
The transaction was facilitated by Todd Peter representing the buyer and Suzanne Trapani Frisbie acting on behalf of the sellers. Both representatives are affiliated with established real estate agencies that specialize in high-value property transactions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$574,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,263.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,055.29
Annual Debt Service$612,663.54
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