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320 Inlet Way

Deepak Khosa Acquires Development Site In Palm Beach Shores For $6.3M
SOLDDevelopment Site

Deepak Khosa Acquires Development Site In Palm Beach Shores For $6.3M

320 Inlet Way

$6,275,000

$132/SF

Building Size

47,480 SF

Asset Type

Development Site

Closing

Feb 17, 2023

AI

The development site located at 320 Inlet Way in Palm Beach Shores has been sold for $6,275,000. Spanning 47,480 square feet, the property was purchased by Deepak Khosa from Therese Kehoe, who represented The Romaine Inc. in the transaction.

Summary of transation details

Albert Boyd from Talon Point Capital Partners acted as the buyer's representative in this deal, while Michael Lewin, Sawyer Webb, and Adam Steinlauf from Katalyst Real Estate & Development represented the seller. The price per square foot for the property stands at $132.

Players

Michael Lewin

Katalyst Real Estate & Development

Broker

$326.3M

vol

24 deals

Broker
Deepak Khosa

Deepak Khosa

Buyer

$47.5M

vol

6 deals

Buyer

Market 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

2.53%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93