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Todd Michael Glaser's Investment Group Acquires La Clara Penthouse In West Palm Beach For $18.75M
SOLD
$18,750,000
+ 1
Florida
See Similar DealsCondo8,020 SF
Sold 11/07/2023
SOLD
Todd Michael Glaser's Investment Group Acquires La Clara Penthouse In West Palm Beach For $18.75M
200 Arkona Court
See Similar DealsCondo8,020 SF
Sold 11/07/2023
+ 1
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$2,337
Total Square Footage:8,020 SF
Transaction Type:Sale
An investment group led by developer Todd Michael Glaser has acquired a penthouse in West Palm Beach's La Clara for at least $18.75 million. The 4-bedroom, 8,020-square-foot penthouse features a private pool, panoramic views, and high-end finishes.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $18,750,000
- Address: 200 Arkona Court
- Market: West Palm Beach
- SF: 8,020
- Price per Square Foot: $2,338
Todd Michael Glaser, along with Jim Randall from Randall Realty Group, purchased the penthouse. The buyer was represented by Carol Sollak from Engel & Völkers. Alison Newton and Christopher Leavitt from Douglas Elliman acted as the seller's representatives in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$66,614.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,884.57
Annual Debt Service$1,066,614.79
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