Aron Eichron Purchases Development Site From Lotus Edge In Boca Raton For $2.75M
20393 Grand Cascade Ave
$2,750,000
$550/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
Mar 13, 2025
AI
The property involved in this transaction is a development site located at 20393 Grand Cascade Avenue in Boca Raton. The sale price for the asset was $2,750,000, consisting of 5,000 square feet, resulting in a price per square foot of $550.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,750,000
- Address: 20393 Grand Cascade Avenue
- Market: Boca Raton
- Square Footage: 5,000
- Price per Square Foot: $550
- Buyer: Aron Eichron
- Seller: Lotus Edge
- Brokers: Joseph Brikman & Rebecca Fischer (BexSellsMiami) - The Real Brokerage
Lotus Edge is noted as Boca Raton's Premier & Exclusive New Construction Community, featuring 665 contemporary single-family homes. The community includes a 39,000 sq. ft. clubhouse with resort-style amenities. The transaction was facilitated by Joseph Brikman and Rebecca Fischer, who are part of The Modern Day Team at The Real Brokerage, which has reported nearing $150,000,000 in listed, sold, and pending inventory since the start of 2025.
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93