Stewart A. Satter Acquires Development Site In Lake Worth For $15.45M
1260 S Ocean Blvd, Lake Worth, FL, USA
$15,450,000
$1,891/SF
Building Size
8,168 SF
Asset Type
Development Site
Closing
Mar 16, 2021
AI
A development site located at 1260 S Ocean Blvd in Lake Worth has been sold in a transaction worth $15,450,000. The property, which is situated in a prime location, offers great potential for development. The sale was closed on 03/17/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,450,000
- Address: 1260 S Ocean Blvd, Lake Worth
- Market: Lake Worth
The buyer of the development site was Stewart A. Satter, while the seller was Tonio Arcaini.
Players
Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93