Updated Oct 28, 2024
Keystone Property Investments Acquires 5 Acre Development Site In Palm Beach For $5.4M
Palm Beach Point Boulevard, Wellington, FL, USA
$5,373,000
$268/SF
Building Size
20,000 SF
Asset Type
Development Site
Closing
May 28, 2020
About this deal
AI
The Wellington Private Equestrian Community in Palm Beach has recently sold a development site spanning approximately 5 acres. The transaction took place on May 28, 2021, and the sale was facilitated by Keystone Property Investments, LLC. The buyer acquired the property for a total sale price of $5,373,000.
Summary of Transaction Details:
- Property Type: Development Site
- Sale Price: $5,373,000
- Address: Wellington Private Equestrian Community
- Market: Palm Beach
- Acres: 5
The buyer, Keystone Property Investments, LLC, made this significant purchase in the Palm Beach market. The development site has a building square footage of 20,000, resulting in a price per square foot of $269. The sale of this property showcases the ongoing investment activity in Palm Beach and highlights the potential for future development in the area.
Players
Wellington 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
2.95%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93