Alan D. Schwartz & Nancy M. Seaman Acquire Palm Beach Condo For $8.84M
2 North Breakers Row
$8,840,000
$2,927/SF
Building Size
3,020 SF
Asset Type
Condo
Closing
Oct 30, 2023
About this deal
AI
An off-market sale in Palm Beach saw a beachfront condominium at 2 North Breakers Row Unit N-T2 change hands for $8.84 million. The property, a condo with 3,020 square feet of space, was sold by its owner of 33 years. The new owners, Alan D. Schwartz, an investment banker, and Nancy M. Seaman, a former real estate brokerage owner, acquired the condo.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $8,840,000
- Square Footage: 3,020
- Address: 2 North Breakers Row Unit N-T2
- Market: Palm Beach
- Buyer: Alan D. Schwartz & Nancy M. Seaman
- Brokers: Cristina Condon, Kevin Condon, John Cregan, and Lisa Cregan - Sotheby's International Realty
The transaction was handled by agents from Sotheby's International Realty, including Cristina Condon, Kevin Condon, John Cregan, and Lisa Cregan. The sale marks the end of a long ownership period for the previous owner.
On the Map
$8,840,000
$2,927/SF
Condo
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Palm Beach Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93