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
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