Billionaire Developer Ashkenazy Sells 0.8-Acre Oceanfront Land In Golden Beach, Florida For $29M
401 Ocean Boulevard
$29,000,000
Building Size
—
Asset Type
Land
Closing
Oct 26, 2023
AI
A 0.8-acre oceanfront lot located at 401 Ocean Boulevard in Golden Beach, Florida has been sold in an off-market deal for $29 million. Billionaire developer Ben Ashkenazy sold the property to Lorena and David Rodriguez. The sale comes after Ashkenazy owned the land for four years. Lorena and David Rodriguez are no strangers to the area, having previously purchased properties in Golden Beach.
Summary of transaction details
- Property Type: Land
- Sale Price: $29,000,000
- Address: 401 Ocean Boulevard, Golden Beach, Florida
- Market: Golden Beach
- Buyer: Lorena & David Rodriguez
- Seller: Ben Ashkenazy - Ashkenazy Acquisition Corp
- Brokers: Isaac Lustgarten & Oren Alexander - Official
This off-market transaction involved the sale of a prime oceanfront property in Golden Beach. Lorena and David Rodriguez, who have previously invested in the area, purchased the land from billionaire developer Ben Ashkenazy. The deal was facilitated by brokers Isaac Lustgarten and Oren Alexander, further solidifying their reputation as key players in the real estate market.
Players
Golden Beach Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93