Updated Oct 28, 2024
Altman Companies Acquires 110-Acre Development Site In Lake Worth Beach For $14M
Lake Worth Beach, Palm Beach, Florida 33480, United States
$14,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 21, 2022
About this deal
AI
Altman Companies, led by Joel L. Altman and Seth M. Wise, acquired a development site in Lake Worth Beach. The property measures approximately 110 acres and was sold by Concert Golf Partners, represented by Peter Nanula.
Summary of Transaction Details
- Property Type: Development Site
- Sale Price: $14,000,000
- Location: Lake Worth Beach
- Date: January 21, 2022
This transaction involved Altman Companies, represented by Joel L. Altman and Seth M. Wise, as the buyer, and Concert Golf Partners, represented by Peter Nanula, as the seller. The sale price for the development site was $14,000,000. No additional details about the property or the transaction were provided.
On the Map
$14,000,000
Development Site
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Players
Lake Worth 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93