Lisa Pair Acquires Tequesta Condo From Fontainebleau Development For $12M
1500 Beach Rd, Tequesta, Florida 33469, United States
$12,000,000
Building Size
—
Asset Type
Condo
Closing
Jun 12, 2022
About this deal
AI
The property involved in this closed transaction is a condominium located at 1500 Beach Road Unit 901 in Tequesta. The condo was sold on 12/06/2022 for a sale price of $12,000,000. The buyers of the property are Lisa Pair and Stephen Pair, who represent BitPay. The sellers of the property are Fontainebleau Development, represented by Jeffrey Soffer, and Perko Development Partners, represented by Philip J. Perko.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $12,000,000
- Address: 1500 Beach Road Unit 901, Tequesta
- Buyer: Lisa Pair; Stephen Pair - BitPay
- Seller: Fontainebleau Development - Jeffrey Soffer; Perko Development Partners - Philip J. Perko
Jeffrey Soffer and Stephen Pair, along with their respective companies, were involved in the sale of this condominium in Tequesta. Jeffrey Soffer represented Fontainebleau Development, while Stephen Pair represented BitPay. This transaction represents a significant deal in the real estate market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93