Redfearn Capital Acquires Mixed-Use Property In West Palm Beach For $17.9M
222 Clematis Street, West Palm Beach, Florida 33401, United States
$17,930,000
$550/SF
Building Size
32,564 SF
Asset Type
Mixed-use
Closing
Dec 20, 2021
About this deal
AI
Redfearn Capital, led by Alex Redfearn, has acquired a mixed-use property located at 222-230 Clematis St. in West Palm Beach. The property spans 0.53 acres and offers a total of 32,564 square feet of space. The transaction took place on December 20, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,930,000
- Address: 222-230 Clematis St.
- Market: West Palm Beach
- Acres: 0.53
The seller in this transaction was Atlas Real Estate Partners. Cushman & Wakefield represented both parties in the deal, with Dominic Montazemi, Mike Ciadella, Scott O'Donnell, Greg Miller, and Miguel Alcivar acting as the brokers in the transaction.
The sale price for the property amounted to $17,930,000, with a price per square foot of $551.
Players
West Palm Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93