Updated Oct 29, 2024
5 Star Developers LLC Acquires Devsite In Palm Beach Gardens For $6.5M
Trevi Isle, Isle Dr, Palm Beach Gardens, FL, USA
$6,500,000
$11/SF
Building Size
544,500 SF
Asset Type
Development Site
Closing
May 17, 2020
About this deal
AI
Located at 12825 Trevi Isle Dr. in Palm Beach Gardens, this property is a development site in a prime market. The transaction took place on 05/18/2020.
Summary of transaction details
- Property Type: Devsite
- Transaction Amount: $6,500,000
- Square Footage: 544,500
- Buyer: 5 Star Developers LLC - Jordan Fischer
- Seller: Kennedy Homes - Stephen Gravett, Michael Ehrlich & Kevin Swill
5 Star Developers LLC, represented by Jordan Fischer, purchased this property from Kennedy Homes. The transaction saw the exchange of this development site in Palm Beach Gardens. Stephen Gravett, Michael Ehrlich, and Kevin Swill acted as representatives for Kennedy Homes in the deal.
Players
Palm Beach Gardens Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93