NewDay USA Purchases Property From Coordinates Solutions LLC For $17 Million In West Palm Beach
3611 S Flagler Dr, West Palm Beach, F...
$17,000,000
Building Size
—
Asset Type
Condo
Closing
Mar 21, 2022
About this deal
AI
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.
On the Map
$17,000,000
Condo
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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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93