Brian K. Stock - Stock Development Acquires Palm Beach Residential For $34.2M
965 North Ocean Boulevard, Palm Beach, FL, USA
$34,200,000
$4,438/SF
Building Size
7,705 SF
Asset Type
Co-Op
Closing
Feb 22, 2021
AI
The residential property located at 965 North Ocean Boulevard in Palm Beach has been sold for a price of $34,200,000. The property spans 1.2 acres and offers 7,705 square feet of living space. With a price per square foot of $4,439, this transaction represents a significant investment in the Palm Beach market.
Summary of transation details
- Property Type: Residential
- Transaction Amount: $34,200,000
- Address: 965 North Ocean Boulevard, Palm Beach
- Square Footage: 7,705
- Price Per Square Foot: $4,439
- Acres: 1.2
Brian K. Stock of Stock Development acted as the buyer in this residential property sale. The seller, Mary Jane Panattoni and Carl Panattoni of Panattoni Development Company, facilitated the transaction. Lawrence Moens, representing Lawrence A. Moens Associates, served as the broker in this deal.
Players
Palm Beach Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93