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259 Pendleton Ave, Palm Bea...

Todd Michael Glaser, Scott Robins & Jonathan Fryd Acquire Development Site In Palm Beach For $6.25M
SOLDDevelopment Site

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

Suzanne Frisbie

The Corcoran Group

Broker

$1.4B

vol

47 deals

Broker
Scott Robins

Scott Robins

Buyer

$209.5M

vol

10 deals

Buyer

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

2.54%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93