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Palm Beach, FL, USA

Douglas Elliman's Alison Newton Acquires Palm Beach Condo For $17.7M
SOLDCondo

Douglas Elliman's Alison Newton Acquires Palm Beach Condo For $17.7M

Palm Beach, FL, USA

$17,700,000

$4,971/SF

Building Size

3,560 SF

Asset Type

Condo

Closing

Nov 12, 2021

AI

The Palm Beach condo at has been sold in a record-breaking transaction. The property, with a total area of 3,560 square feet, was sold for a remarkable sale price of $17,700,000. This sale sets a new high record for both the total sale amount and the price per square foot in the Palm Beach condo market.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $17,700,000
  • Square Footage: 3,560 sq ft
  • Price Per Square Foot: $4,972
  • Market: Palm Beach

The buyer of the condo is Deborah A. Turner, while the seller is Shirley Fennell. Representing the buyer is Alison Newton from Douglas Elliman, and Christopher Deitz from Compass represented the seller. This transaction showcases the expertise and dedication of these professionals in successfully closing the deal.

The sale of this Palm Beach condo not only sets a new record in terms of the total sale price but also in terms of the price per square foot. This highlights the desirability and value of properties in the Palm Beach condo market. Such a significant transaction demonstrates the continued strength and attractiveness of the real estate market in this area.

Players

Christopher Deitz

Compass

Broker

$181.1M

vol

8 deals

Broker

Deborah A Turner

Buyer

$35.4M

vol

2 deals

Buyer

Fennell Shirley

Seller

$35.4M

vol

2 deals

Seller

Palm Beach Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.90%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93