Megan Probst Of The Probst Group Represents Seller In $4.5M Pompano Beach Condo Sale
1116 North Ocean Boulevard
$4,500,000
$1,098/SF
Building Size
4,096 SF
Asset Type
Condo
Closing
Nov 29, 2024
AI
This transaction involves a condo located at 1116 North Ocean Boulevard Unit 803 in Pompano Beach. The sale price reached $4,500,000 for a total area of 4,096 square feet, resulting in a price per square foot of $1,098. The sale price does not include an additional $500,000 in concessions, which affects the overall calculation of the price per square foot.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,500,000
- Address: 1116 North Ocean Boulevard Unit 803
- Market: Pompano Beach
- Square Footage: 4,096
- Price per Square Foot: $1,098
- Concessions: $500,000
The deal involved brokers Megan Probst from The Probst Group - Compass and Michelle Nunez from Fortune International Realty, representing the various parties in this transaction.
Players
Pompano 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93