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965 North Ocean Boulevard, ...

Brian K. Stock - Stock Development Acquires Palm Beach Residential For $34.2M
SOLDCo-Op

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

Lawrence Moens

Broker

$2.4B

vol

64 deals

Broker

Brian K. Stock

Stock Development

Buyer

$140.4M

vol

4 deals

Buyer
PC
Panattoni Development CompanySeller

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