Updated Nov 17, 2023
Todd Michael Glaser Acquires Development Site In Palm Beach For $29.95M
palm beach florida
$29,950,000
Building Size
—
Asset Type
Development Site
Closing
Sep 28, 2021
About this deal
AI
The development site in Palm Beach, previously owned by disgraced financier Jeffrey Epstein, is now under contract for sale. The seller, Todd Michael Glaser, has agreed to a sale price of $29,950,000 for the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $29,950,000
Todd Michael Glaser, the seller of the development site, is a notable figure in the real estate industry. Glaser is known for his expertise in property development and has successfully completed numerous projects in the past.
It is important to note that the development site previously held the home of Jeffrey Epstein, a financier who was involved in numerous legal controversies. The sale of the property marks a significant change in ownership and potential future development for the site.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93