Updated Dec 21, 2023
Hines Acquires Development Site On South Flagler Drive In West Palm Beach For $41.5M
1355 South Flagler Drive, West Palm Beach, Florida 33401, United States
$41,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 17, 2022
About this deal
AI
1355 South Flagler Drive, a development site spanning 3 acres, was recently sold in West Palm Beach. The transaction took place on 07/18/2022 and was captured in an image by Jeffrey Hines.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $41,500,000
- Market: West Palm Beach
- Buyer: Hines - Jeffrey Hines & Laura Hines-Pierce; Frisbie Group - Suzanne Frisbie, Dave, Rick & Robert Frisbie Sr., Katie Frisbie Crowell & Cody Crowell
The buyer group consists of Hines - Jeffrey Hines & Laura Hines-Pierce; and Frisbie Group - Suzanne Frisbie, Dave, Rick & Robert Frisbie Sr., Katie Frisbie Crowell & Cody Crowell, represented by their respective brokers. No additional information regarding the transaction or the property was provided.
Players
West Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93