Jason Green Acquires Land In Palm Beach For $8.35M With Douglas Elliman Brokers
216 Via Marila
$8,350,000
$1,785/SF
Building Size
4,677 SF
Asset Type
Land
Closing
Mar 28, 2024
About this deal
AI
A property at 216 Via Marila in Palm Beach's North End, featuring a 1961-built four-bedroom house on a two-fifths of an acre lot, has been sold for $8.35 million to a company associated with New York builder and developer Jason Green. The lot offers beach access, direct access to the Lake Trail along the Intracoastal Waterway, and backs up to a private lane accessing a two-car garage, potentially paving the way for new construction plans.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $8,350,000
- Market: Palm Beach
- Address: 216 Via Marila
- Square Footage: 4,677
- Price per Square Foot: $1,785
- Buyer: Jason Green
- Brokers: Cara McClure, Lisa Wilkinson & Thor Brown - Douglas Elliman
The property at 216 Via Marila has been acquired by a company connected to Jason Green, a well-known New York builder and developer. Assisted by brokers Cara McClure, Lisa Wilkinson, and Thor Brown from Douglas Elliman, the transaction marks a significant investment in the North End of Palm Beach. The property's proximity to the beach and access to various amenities make it an attractive choice for potential development projects.
On the Map
$8,350,000
$1,785/SF
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93