The Edgewater Financial Trust Acquires Condo In West Palm Beach For $16M
1100 South Flagler Drive, West Palm Beach, FL, USA
$16,000,000
$3,126/SF
Building Size
5,117 SF
Asset Type
Condo
Closing
Nov 1, 2020
About this deal
AI
The property involved in this transaction is a condo located at 1100 S. Flagler Drive in West Palm Beach. The condo has a total square footage of 5,117. The sale price for this property was $16,000,000, resulting in a price per square foot of $3,127. The seller of the condo was Pamela Applebaum, and the buyer was The Edgewater Financial Trust. The transaction took place on 11/01/2020.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $16,000,000
- Square Footage: 5,117
- Price Per Square Foot: $3,127
- Address: 1100 S. Flagler Drive, West Palm Beach
- Seller: Pamela Applebaum
- Buyer: The Edgewater Financial Trust
The transaction was facilitated by Samantha Curry from Douglas Elliman, who served as the broker representing Pamela Applebaum. They played a crucial role in negotiating and finalizing the deal.
West 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93