Todd Michael Glaser, Scott Robins & Jonathan Fryd Acquire Development Site In Palm Beach For $6.25M
259 Pendleton Ave, Palm Beach, FL 33480, USA
$6,250,000
$318/SF
Building Size
19,600 SF
Asset Type
Development Site
Closing
Jul 21, 2020
AI
Todd Michael Glaser, Scott Robins, and Jonathan Fryd have purchased a development site located at 259 Pendleton Avenue in Palm Beach. The property was sold by Llewellyn Legacy LLC. The deal was facilitated by Suzanne Frisbie of Frisbie Group (Premier Estate Properties), representing the buyers, and Schuyler Tilney and Elizabeth Tilney, representing the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,250,000
- Address: 259 Pendleton Avenue
- Market: Palm Beach
- Buyer: Todd Michael Glaser, Scott Robins & Jonathan Fryd
- Seller: Llewellyn Legacy LLC
- Buyer's Representative: Suzanne Frisbie - Frisbie Group (Premier Estate Properties)
- Seller's Representative: Schuyler Tilney & Elizabeth Tilney
- Building Square Footage: 19,600
- Price per Square Foot: $319
This transaction involved the purchase of a development site in Palm Beach, situated at 259 Pendleton Avenue. The buyers, Todd Michael Glaser, Scott Robins, and Jonathan Fryd, made the acquisition from Llewellyn Legacy LLC. The buyers were represented by Suzanne Frisbie of Frisbie Group (Premier Estate Properties), while the sellers were represented by Schuyler Tilney and Elizabeth Tilney. The property spans an area of 19,600 square feet and was sold at a price of $6,250,000, equating to a price per square foot of $319.
Players
Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93