NewDay USA Purchases Property From Coordinates Solutions LLC For $17 Million In West Palm Beach
SOLD
$17,000,000
Florida
See Similar DealsCondo
Sold 03/21/2022
SOLD
NewDay USA Purchases Property From Coordinates Solutions LLC For $17 Million In West Palm Beach
3611 S Flagler Dr, West Palm Beach, F...
See Similar DealsCondo
Sold 03/21/2022
Summary
FLORIDA
Asset Type:Condo
Transaction Type:Sale
A boutique condo building located at 3611 S Flagler Dr, West Palm Beach, has been sold for $17,000,000. The property consists of newly built waterfront Crystal condos and is situated in the West Palm Beach market. The building's overall square footage is not disclosed.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $17,000,000.00
- Buyer: NewDay USA
- Seller: Coordinates Solutions LLC
- Buyer's Representatives: Ashley Deflin McIntosh, Christopher (Chris) Leavitt (Douglas Elliman)
- Seller's Representatives: Christopher Leavitt and Ashley McIntosh (Douglas Elliman)
The transaction involved representatives from the Leavitt-McIntosh team at Douglas Elliman facilitating the deal for both the buyer and seller. The seller is directed by Nicole Carapazza and Cody Alfrey. Additionally, Simon Banke from JLL provided advisory services for the buyer, NewDay USA, which is known for mortgage lending to veterans.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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