Todd Michael Glaser's Investment Group Acquires La Clara Penthouse In West Palm Beach For $18.75M
200 Arkona Court
$18,750,000
$2,337/SF
Building Size
8,020 SF
Asset Type
Condo
Closing
Nov 7, 2023
AI
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.
Players
West Palm Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93