Oko Group And Cain International Secure $55M Loan From BDT & MSD Partners For Palm Beach Development
2774 South Ocean Boulevard
$55,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 23, 2026
AI
The development site located at 2774 South Ocean Boulevard in Palm Beach encompasses a total area of 4.9 acres, with a total built square footage of 277,833. This site is earmarked for an Aman-branded oceanfront condo development, which marks the first new condo project in Palm Beach in approximately 20 years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,000,000
- Lender: Michael Dell - BDT & MSD Partners
- Landlord: Vlad Doronin - OKO Group
- Landlord: Jonathan Goldstein - Cain International
Oko Group and Cain International have secured financing from BDT & MSD Partners for the ambitious project, which will replace two existing buildings with three luxury towers comprising a total of 41 units. The development is designed by OMA and specifically targets ultra-wealthy buyers.
Players
Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93