Updated Oct 29, 2024
Lotta Development LLC Acquires Development Site In Sanctuary, Boca Raton For $6.5M
4111 Ibis Point Circle, Boca Raton, FL 33431, USA
$6,500,000
Building Size
—
Asset Type
Development Site
Closing
Jun 28, 2020
About this deal
AI
The development site located at 4111 & 4121 Ibis Point Circle in the Sanctuary neighborhood of Boca Raton has been sold. The transaction took place on June 29, 2020, with a sale price of $6,500,000. The site spans a total of 27,000 square feet and has a price per buildable square foot (PPBSF) of $240.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $6,500,000
- BSF: 27,000
- PPBSF: $240
- Market: Sanctuary, Boca Raton
Lotta Development LLC, represented by Margaretha Buerman, acquired the property from JP Ibis, represented by James Patterson. The deal was facilitated by Kevin Kreutzfeld and Carmen N. D’Angelo Jr. of Premier Estate Properties.
On the Map
$6,500,000
Development Site
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Players
Boca Raton 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93