Updated Mar 17, 2025
Related Cos. Acquires Development Site In West Palm Beach For $20.1M
134 Lakeview Avenue, West Palm Beach, FL, USA
$20,120,000
Building Size
—
Asset Type
Development Site
Closing
Jul 27, 2020
About this deal
AI
Related Cos., led by Gopal Rajegowda, J.P. Perez, Jeff Blau, and Stephen M. Ross, has acquired a development site in West Palm Beach. The property, located at 134 & 142 Lakeview Ave., was sold by The First Church of Christ, Scientist. The transaction took place on July 27, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,120,000
- Address: 134 & 142 Lakeview Ave.
- Market: West Palm Beach
The development site spans across 2.52 acres, resulting in a price per acre (PPA) of $7,984,127. Further specific details about the property are not available.
Players
West 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93