Updated Nov 27, 2024
Karen & Paul Levy Acquire Development Site In Palm Beach For $10.8M
225 Tangier Ave, Palm Beach, FL 33480, USA
$10,820,000
$31/SF
Building Size
348,480 SF
Asset Type
Development Site
Closing
Jun 8, 2020
About this deal
AI
A development site in Palm Beach has been sold for $10,820,000. Located at 233 Tangier Avenue and 225 Tangier Avenue, the property spans a total of 34,848 square feet. The price per square foot for the site is $310, according to the transaction details.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $10,820,000
- BSF: 34,848 square feet
- PPBSF: $310
The buyers of the development site are Karen and Paul Levy, who were represented by JLL. The sellers of the property are Houston Financial Investments LLC and ILLKM PB LLC, with Jeff Weiner involved in the deal. Christian Angle acted as the broker for the transaction.
Players
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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93