OKO Group Acquires Palm Beach Hotel & Condo For $146.6M
2730 South Ocean Boulevard, Palm Beach, Florida 33480, United States
$146,600,000
Units
132
Asset Type
—
Closing
Oct 19, 2022
About this deal
AI
A hotel and condo property located at 2730 S Ocean Blvd & 2720 S Ocean Blvd in Palm Beach has been sold for a price of $146,600,000. The transaction took place on October 20, 2022.
Summary of transaction details
- Property Type: Hotel & Condo
- Transaction Amount: $146,600,000
- Units: 132
- Price Per Unit: $1,110,606
The buyer of the property was OKO Group represented by Francis H. Scola III, in partnership with Cain International. On the other hand, the seller was Copperline Partners, with Richard, Adam, and Robert Schlesinger as the representatives.
On the Map
$146,600,000
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Players
Boca Raton 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93