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Bobby Julien Of Kolter Group And Phil Perko Of Perko Development Acquire 11 Units For $25.025M

Property Image
SOLD
$25,025,000

Florida

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Condo
Sold 12/09/2025
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Property Image
SOLD

Bobby Julien Of Kolter Group And Phil Perko Of Perko Development Acquire 11 Units For $25.025M

19930 South Beach Road

See Similar Deals
Condo
Sold 12/09/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Condo
Transaction Type:Sale

The Beach Sound Condominium, located at 19930 South Beach Road in Jupiter, is a condo asset comprising 12 units. The recent transaction involved the acquisition of 11 units for a total sale price of $25,025,000, resulting in a per unit price of approximately $2,275,000. The property spans a 1.46-acre site.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $25,025,000
  • Units: 11
  • Price Per Unit: $2,275,000
  • Buyer: Bobby Julien - Kolter Group; Phil Perko - Perko Development

Bobby Julien and Phil Perko are prominent figures in the real estate development sector, representing Kolter Group and Perko Development respectively. The acquisition aims to facilitate the redevelopment of the site into an eight-story, 12-unit luxury condominium designed by SB Architects, continuing the trend in South Florida of transforming older condominiums for high-end development.

Players

Bobby Julien
Bobby Julien
8 deals$542.3M volume
BUYER
KG
Kolter Group
BUYER

Details

SOLD
IMAGE: Bobby Julien & Phil Perko DATE: 12/09/2025 ADDRESS: 19930 South Beach Road MARKET: Jupiter ASSET TYPE: Condo BUYER: Bobby Julien - Kolter Group (@KolterHomes); Phil Perko - Perko Development SALE PRICE: $25,025,000 UNITS: 11 ~ PPU: $2,275,000 NOTE: Kolter Group and Perko Development acquired 11 of 12 units at the Beach Sound Condominium near Jupiter for $25.025M, paying roughly $2.275M per condo to redevelop the 1.46-acre site. The partners plan an eight-story, 12-unit luxury condo designed by SB Architects, continuing the South Florida trend of buying out older condos for high-end redevelopment.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,334,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,908.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,631.27
Annual Debt Service$1,423,575.21