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1100 South Flagler Drive Un...

Black Diamond Group Acquires Condo In West Palm Beach For $11.2M
SOLDCondo

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

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.

Players

Linda Olsson

Linda R. Olsson

Broker

$131.1M

vol

10 deals

Broker

Rhonda Fischer

Seller

$26.2M

vol

2 deals

Seller

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

1.42%

Cash-on-Cash

-0.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93