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2700 North Ocean Drive, Riv...

Rick Silver Acquires Condo In Riviera Beach For $7.1M
SOLD

Rick Silver Acquires Condo In Riviera Beach For $7.1M

2700 North Ocean Drive, Riviera Beach, Florida 33404, United States

$7,100,000

$953/SF

Building Size

7,446 SF

Asset Type

Closing

May 12, 2022

AI

2700 North Ocean Drive Unit TS9A, a condo property in Riviera Beach, was recently sold for $7,100,000. The transaction took place on May 13, 2022. The condo spans 7,446 square feet, resulting in a price per square foot of $954. The seller of the property was Victoria Saunders & Paul H. Saunders of James River Capital, while the buyer was Rick Silver.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $7,100,000
  • Address: 2700 North Ocean Drive Unit TS9A
  • Market: Riviera Beach
  • Square Footage: 7,446
  • Price Per Square Foot: $954

Representing the seller, Victoria Saunders & Paul H. Saunders of James River Capital facilitated the deal with Rick Silver as the buyer.

Players

Victoria Saunders

James River Capital

Seller

$221.8M

vol

4 deals

Seller

Riviera Beach 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

2.23%

Cash-on-Cash

-0.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93