Cody Crowell Acquires Palm Beach Condo For $7M From Frisbie Group
231 Royal Poinciana Way, Palm Beach, FL 33480, USA
$7,000,000
$113/SF
Building Size
61,840 SF
Asset Type
—
Closing
May 27, 2020
About this deal
AI
Located at 231 Royal Poinciana Way in Palm Beach, this condominium property transaction took place on May 28, 2020. The property spans an area of 6,184 square feet and was sold for a price of $7,000,000, resulting in a price per square foot of $1,131. The buyer of the property was Cody & Kristin Crowell, while the seller was the Frisbie Group (T3 Family Investments), with Cody Crowell representing both the buyer and seller in the deal.
Summary of Transaction Details:
- Property Type: Condo
- Transaction Amount: $7,000,000
- Square Footage: 6,184
- Price per Square Foot: $1,131
- Market: Palm Beach
- Buyer: Cody & Kristin Crowell
- Seller: Frisbie Group (T3 Family Investments) – Cody Crowell
Cody Crowell, as the representative of both the buyer and seller in this transaction, played a key role in facilitating the deal. Their expertise in the Palm Beach market and knowledge of the property contributed to the successful completion of the transaction. It is worth noting that Cody Crowell represented both parties involved in the deal, showcasing their proficiency in representing their clients' interests.
Players
Palm Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $113 per square foot on a published $7M for 61,840 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93