Andrew Maxey & Brent Baker Of Pulte Homes Acquire Development Site In West Palm Beach For $8.82M
432 Nottingham Boulevard
$28,000,000
$428/SF
Building Size
65,340 SF
Asset Type
Development Site
Closing
Apr 16, 2026
AI
The development site located at 432 Nottingham Boulevard in West Palm Beach has been sold for $8,820,000. The property encompasses 65,340 square feet, translating to a price per square foot of $135.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,820,000
- Buyer: Andrew Maxey & Brent Baker - Pulte Homes
- Seller: Thomas Frankel & Ryan Frankel - Frankel Enterprises; NDT Development
- Seller's Representative: Bobby Dockerty - Berkadia
This transaction involves key individuals including Andrew Maxey and Brent Baker representing Pulte Homes, the buyer of the development site. The sellers, Thomas Frankel and Ryan Frankel, are affiliated with Frankel Enterprises and NDT Development, indicating a collaborative effort in the sale. The representation by Bobby Dockerty from Berkadia highlights the brokerage's role in facilitating the transaction.
Players
West 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93