PulteGroup Acquires Development Site In Palm Beach Gardens For $13.7M
Avenir Dr, Palm Beach Gardens, FL, USA
$13,700,000
Building Size
—
Asset Type
Development Site
Closing
Mar 4, 2021
AI
A development site in Palm Beach Gardens has been sold for $13,700,000. The property, located on Avenir Dr, consists of 98 lots with a price per lot of $139,796. The transaction took place on March 5, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,700,000
- Address: Avenir Dr
- Market: Palm Beach Gardens
- Lots: 98
- Price Per Lot: $139,796
PulteGroup, represented by Brent Baker, acquired the property from Avenir Development LLC. Brent Baker acted as the buyer's representative in the deal.
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
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93