Updated Oct 29, 2024
1440 Holdings LLC Acquires Development Site In Palm Beach For $42M
1440 South Ocean Boulevard, Pompano Beach, FL, USA
$42,000,000
$14,000/SF
Building Size
3,000 SF
Asset Type
Development Site
Closing
Feb 28, 2021
About this deal
AI
1440 South Ocean Boulevard, a development site located in Palm Beach, was recently sold for $42,000,000. The property spans across 1.7 acres, resulting in a price per acre of approximately $24,705,882.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $42,000,000
- Address: 1440 South Ocean Boulevard
- Market: Palm Beach
The buyer of the property was 1440 Holdings LLC, represented by Richard Armbruster. The seller, Sydell Miller, successfully closed the deal on 03/01/2021.
The development site sale at 1440 South Ocean Boulevard, Pompano Beach, FL, USA in Pompano Beach, Florida sold for $42M in 2021. The building is 3,000 square feet, implying about 14K per square foot on the published price. Named participants on the 1440 South Ocean Boulevard, Pompano Beach, FL, USA sale are Sydell Miller. This page is the Pompano Beach, Florida file for the 1440 South Ocean Boulevard, Pompano Beach, FL, USA development site sold: pricing, party profiles, and other closed development site comps from the same Pompano Beach sit in the Market section below. Filter that Pompano Beach development site set by closing date to see what else sold near 1440 South Ocean Boulevard, Pompano Beach, FL, USA around 2021. Published consideration for 1440 South Ocean Boulevard, Pompano Beach, FL, USA is $42M, dated 2021. Cite this 1440 Holdings LLC Acquires Development Site In Palm Beach For $42M sale when underwriting similar development site product around Pompano Beach, Florida.
Players
Pompano 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93