Mark Timothy Inc. Acquires Development Site In Delray Beach For $11M
701 S Ocean Blvd, Delray Beach, FL 33483, USA
$11,000,000
$21/SF
Building Size
518,360 SF
Asset Type
Development Site
Closing
Sep 17, 2020
AI
The development site located at 701 South Ocean Boulevard in Delray Beach has been sold for $11,000,000. The property spans a total of 51,836 square feet, resulting in a price per square foot of $212.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Address: 701 South Ocean Boulevard, Delray Beach
- Market: Delray Beach
- Buyer: Mark Timothy Inc. - Mark Pulte
- Seller: Michael & Judith Rothberg
- Broker: Pascal Liguori - Premier Estate Properties
Mark Pulte, representing Mark Timothy Inc., acted as the buyer in this transaction. The seller of the property is Michael and Judith Rothberg. Pascal Liguori, from Premier Estate Properties, played a crucial role as the broker in facilitating this deal.
Players
Delray 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93