Updated Oct 29, 2026
Cohen Brothers Realty Secures $385 Million Construction Loan For West Palm Point Development
801 South Dixie Highway
$385,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 29, 2026
About this deal
AI
A construction loan of $385 million was secured for a development site located at 801 South Dixie Highway, West Palm Beach, Florida. The property covers an area of 2.36 acres with a total building square footage of 438,000. This project, known as West Palm Point, will consist of a 23-story office and retail development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $385,000,000
- Address: 801 South Dixie Highway
- Market: West Palm Beach, FL
- Asset Type: Development Site
- Building Square Footage: 438,000
- Acres: 2.36
- Landlord: Charles Cohen - Cohen Brothers Realty
- Broker: Robert Horowitz - Cooper Horowitz
- Loan Type: Construction
Cohen Brothers Realty obtained financing from an undisclosed New York private equity firm to advance the development of this project, which has already secured substantial pre-leasing commitments. The anticipated completion date for West Palm Point is set for the first quarter of 2029.
On the Map
$385,000,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93