Black Diamond Group Acquires Condo In West Palm Beach For $11.2M
1100 South Flagler Drive Unit 1702
$11,200,000
$2,947/SF
Building Size
3,800 SF
Asset Type
Condo
Closing
Mar 2, 2023
About this deal
AI
A condo unit located at 1100 South Flagler Drive Unit 1702 in West Palm Beach has been sold for $11,200,000. The property, measuring approximately 3,800 square feet, was purchased by Alan Lunder of Black Diamond Group. The sellers of the condo were Rhonda Fischer and Cliff Fischer of Clifford & Company. The transaction was facilitated by Linda R. Olsson of Linda R. Olsson.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $11,200,000
- Market: West Palm Beach
- Buyer: Alan Lunder - Black Diamond Group
- Seller: Rhonda Fischer; Cliff Fischer - Clifford & Company
- Broker: Linda R. Olsson - Linda R. Olsson
Cliff Fischer, the previous owner of the condo, decided to sell the property, leading to the transaction. Alan Lunder, representing Black Diamond Group, took the opportunity to acquire the condo in the West Palm Beach market. The deal was successfully negotiated and finalized with the assistance of Linda R. Olsson, a broker from Linda R. Olsson.
On the Map
$11,200,000
$2,947/SF
Condo
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Players
West Palm Beach Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93