Updated Dec 19, 2023
JFI Sells Palm Beach Development Site For $40.3M With Lawrence Moens As The Broker
302 Maddock Way, Palm Beach, FL, USA
$40,250,000
$474/SF
Building Size
84,768 SF
Asset Type
Development Site
Closing
Feb 28, 2021
About this deal
AI
Located in Palm Beach, the development site at 302 & 304 Maddock Way has been sold for a price of $40,250,000. This transaction took place on 03/01/2021. The property is a development site and offers potential for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,250,000
- Address: 302 & 304 Maddock Way, Palm Beach
The sellers of this property were Mitchell Jacobson and Marjorie Gershwind Fiverson, represented by JFI. Lawrence Moens of Lawrence A. Moens Associates acted as the broker in this deal.
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93