Updated Dec 21, 2023
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
About this deal
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.
The development site sale at 1260 S Ocean Blvd, Lake Worth, FL, USA in Palm Beach, Florida sold for $15.5M in 2021. The building is 8,168 square feet, implying about 1.9K per square foot on the published price. Named participants on the 1260 S Ocean Blvd, Lake Worth, FL, USA sale are Stewart A Satter. This page is the Palm Beach, Florida file for the 1260 S Ocean Blvd, Lake Worth, FL, USA development site sold: pricing, party profiles, and other closed development site comps from the same Palm Beach sit in the Market section below. Filter that Palm Beach development site set by closing date to see what else sold near 1260 S Ocean Blvd, Lake Worth, FL, USA around 2021. Published consideration for 1260 S Ocean Blvd, Lake Worth, FL, USA is $15.5M, dated 2021. Cite this Stewart A. Satter Acquires Development Site In Lake Worth For $15.45M sale when underwriting similar development site product around Palm Beach, Florida.
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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