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3100 North Ocean Drive

WRC Development Sells Palm Beach Shores Condo For $2.05M With Buyer's Rep Vincent Spadea & Gloria Rodriguez
SOLDCondo

WRC Development Sells Palm Beach Shores Condo For $2.05M With Buyer's Rep Vincent Spadea & Gloria Rodriguez

3100 North Ocean Drive

$2,050,000

$931/SF

Building Size

2,200 SF

Asset Type

Condo

Closing

Oct 16, 2023

AI

The property involved in this transaction is a condominium located at 3100 North Ocean Drive 1804-P in Palm Beach Shores. The condo has a total area of 2,200 square feet and was sold for a price of $2,050,000, resulting in a price per square foot of $932.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $2,050,000
  • Square Footage: 2,200
  • Address: 3100 North Ocean Drive 1804-P
  • Market: Palm Beach Shores

The seller of this property is WRC Development. The buyer's representatives in this deal were Vincent Spadea and Gloria Rodriguez from Douglas Elliman.

Players

Vincent Spadea

Douglas Elliman

Broker

$131.1M

vol

10 deals

Broker

Riviera 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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93