757 Island Dr LLC Acquires Palm Beach Land For $39.5M
757 Island Drive, Palm Beach, FL, USA
$39,500,000
$7,710/SF
Building Size
5,123 SF
Asset Type
—
Closing
Jul 15, 2020
About this deal
AI
757 Island Drive in Palm Beach has been sold for a whopping $39,500,000. This 0.9-acre land transaction took place on July 15, 2021. The property is located in a prime location on the Island Drive.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $39,500,000
- Date: 07/15/2021
- Address: 757 Island Drive, Palm Beach
- Market: Palm Beach
- Buyer: 757 Island Dr LLC
- Seller: Elizabeth Wetherell; David Wetherell - Biomark Capital
The buyer in this transaction is 757 Island Dr LLC, while the seller is Elizabeth Wetherell and David Wetherell, represented by Biomark Capital. Both parties have successfully closed the deal for this valuable land in Palm Beach.
Players
Palm 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93