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250 South Beach Road, Teque...

Jeffrey Soffer, Brett Mufson & Sheryl Kass Acquire Tequesta Condo For $100M
SOLD

Jeffrey Soffer, Brett Mufson & Sheryl Kass Acquire Tequesta Condo For $100M

250 South Beach Road, Tequesta, Florida 33469, United States

$100,000,000

Building Size

Asset Type

Closing

Aug 14, 2022

AI

Jeffrey Soffer, Brett Mufson, and Sheryl Kass have acquired a condominium at 250 Beach Road in Tequesta. The property, consisting of 40 units, was sold for a total price of $100,000,000, resulting in an average price per unit of $2,500,000.

Summary of Transaction Details

  • Property Type: Condo
  • Transaction Amount: $100,000,000
  • Address: 250 Beach Road, Tequesta
  • Market: Tequesta

Fontainebleau Development represented the buyers, Jeffrey Soffer, Brett Mufson, and Sheryl Kass, in this transaction.

Players

Brookfield Properties
Brookfield PropertiesBrokerage

Jeff Soffer

Fontainebleau Development

Buyer

$3.3B

vol

13 deals

Buyer

Jupiter CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93