SOLDLand
965 NOB LLC Purchases Oceanfront Land From Stock Development In Palm Beach For $58 Million
965 North Ocean Boulevard
$58,000,000
Building Size
—
Asset Type
Land
Closing
Oct 15, 2025
About this deal
AI
The transaction involved a 1.2-acre oceanfront lot located at 965 North Ocean Boulevard in Palm Beach. The property was sold for $58 million. This land is situated in a prime location, showcasing its potential for future development.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $58,000,000
- Address: 965 North Ocean Boulevard
- Market: Palm Beach
- Acres: 1.2
- Buyer: 965 NOB LLC
- Seller: Brian K. Stock - Stock Development
- Buyer's Representative: Marley Goodman Overman - Illustrated Properties; Gary Pohrer - Serhant
- Seller's Representative: Lawrence Moens - Lawrence A. Moens Associates
Stock Development sold the property after not receiving approval for a planned mansion. The buyer, 965 NOB LLC, is managed by Erik Moody, an executive at Silver Lake. The listing was handled by Lawrence Moens of Lawrence A. Moens Associates, highlighting the involvement of notable real estate professionals in this high-value transaction.
On the Map
$58,000,000
Land
View full map
Players
Palm Beach Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Deal FAQ
Browse Palm Beach land sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93