Nicholas Adams Purchases Oceanfront Penthouse In Palm Beach For $15.7 Million
101 Worth Avenue
$15,700,000
$3,390/SF
Building Size
4,630 SF
Asset Type
Condo
Closing
Sep 30, 2024
AI
A condo located at 101 Worth Avenue Penthouse A in Palm Beach has sold for $15,700,000. This oceanfront penthouse in the Kirkland House condominium building features a renovated three-bedroom unit, occupying 4,630 square feet, and has achieved a price per square foot of $3,391.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $15,700,000
- Address: 101 Worth Avenue Penthouse A
- Market: Palm Beach
- Square Footage: 4,630
- Price per Square Foot: $3,391
- Buyer: Nicholas Adams
- Seller: Roderic M. Oneglia Spray Trust
- Buyer's Representative: Bobby Goodnough & Raj Shrestha - Sotheby's International Realty
- Seller's Representative: Anne Carmichael - Brown Harris Stevens
The sale marked a significant milestone as it represents the largest sale ever recorded for the Kirkland House condominium building, going beyond its previous sale price of $5.8 million in 2013. The buyer, Nicholas Adams, is identified as a long-time Palm Beach resident and investments specialist who purchased the property from a trust managed by retired construction executive Roderic M. Oneglia.
Players
Palm Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93