The Breakers Palm Beach Acquires Mixed-Use Property In Palm Beach For $12M
233 Royal Poinciana Way & 235 Royal Poinciana Way
$12,000,000
$913/SF
Building Size
6,566 SF
Asset Type
Mixed-use
Closing
Mar 27, 2024
About this deal
AI
The property sold in this transaction is a mixed-use asset located at 233-235 Royal Poinciana Way in Palm Beach. The sale price was $12,000,000 for a total square footage of 6,566, resulting in a price per square foot of $1,828.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Buyer: The Breakers Palm Beach
- Seller: Sundar Jeyanandarajan - The Maha Ganapathy Trust
- Broker: Josh Wade - Flagship Partners
- Market: Palm Beach
Flagship Partners represented the exclusive broker in this off-market transaction. For further inquiries, Josh Wade can be contacted at [email protected].
Players
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93