Nick Heine Purchases Land From Tom Eswein & Peter Serpico In West Palm Beach For $2.4M
2465 Shore Drive
$2,400,000
Building Size
—
Asset Type
Land
Closing
Oct 15, 2026
About this deal
AI
The asset involved in this transaction is a parcel of land located at 2465 Shore Drive in West Palm Beach. The sale was completed for a total amount of $2,400,000.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,400,000
- Buyer: Nick Heine
- Seller: Tom Eswein & Peter Serpico
- Brokers: Michael Lewin & Adam Steinlauf - Katalyst Real Estate & Development
- Date of Transaction: 10/15/2026
This transaction was facilitated by Michael Lewin and Adam Steinlauf, who represented the buyer and seller through Katalyst Real Estate & Development. Their involvement was critical in executing the deal between Nick Heine, as the buyer, and sellers Tom Eswein and Peter Serpico.
On the Map
$2,400,000
Land
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Players
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Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93