Ashok Patel Sells Hotel In Palm Beach Gardens For $7.55M With Taj Patel - GPT Commercial
4123 Northlake Boulevard
$7,550,000
$111/SF
Building Size
67,518 SF
Asset Type
Hotel
Closing
Jul 14, 2022
AI
A hotel located at 4123 Northlake Blvd in Palm Beach Gardens has been sold for a price of $7,550,000. The property spans 67,518 square feet and has a price per square foot of $112. The transaction involved the sale of the hotel, with the seller being Ashok Patel.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,550,000
- Address: 4123 Northlake Blvd
- Market: Palm Beach Gardens
- Square Feet: 67,518
- Price per Square Foot: $112
Taj Patel from GPT Commercial represented Ashok Patel as the broker in this transaction. GPT Commercial facilitated a smooth and efficient off-market closing for the hotel. For those interested in buying or selling properties, Taj Patel can be contacted at [email protected] or 561-859-9739. More information can be found at GPTcommercial.com.
Players
Palm Beach Gardens Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.10%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93