Bristol 701 LLC Acquires West Palm Beach Condo For $7.75M
SOLD
$7,750,000
Florida
See Similar DealsCondo4,358 SF
Sold 03/19/2021
SOLD
Bristol 701 LLC Acquires West Palm Beach Condo For $7.75M
1100 South Flagler Drive, West Palm Beach, FL, USA
See Similar DealsCondo4,358 SF
Sold 03/19/2021
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,778
Total Square Footage:4,358 SF
Transaction Type:Sale
Located at 1100 South Flagler Drive Unit 701 in West Palm Beach, this condominium property was recently sold in a transaction. The property spans across 4,358 square feet and has a price per square foot of $1,778. The sale price for this condo was $7,750,000. The buyer of the property was Bristol 701 LLC, while John Noffo-Kahn acted as the seller.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $7,750,000
- Square Footage: 4,358
- Price Per Square Foot: $1,778
- Address: 1100 South Flagler Drive Unit 701, West Palm Beach
Gary Pohrer, Scott Gerow, and Rachelle Hirt from Douglas Elliman represented both the buyer, Bristol 701 LLC, and the seller, John Noffo-Kahn, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,534.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,738.95
Annual Debt Service$440,867.45
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