Motcomb Estates Limited Acquires Mixed-Use Property On Palm Beach's Worth Avenue For $26.4M
259 Worth Avenue, Palm Beach, FL, USA
$26,400,000
$1,612/SF
Building Size
16,374 SF
Asset Type
Mixed-use
Closing
Dec 28, 2020
About this deal
AI
Located at 259 Worth Avenue in Palm Beach, this mixed-use property was recently sold on December 29, 2020. The property spans 16,374 square feet and was sold for a price of $26,400,000, resulting in a price per square foot of $1,612.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $26,400,000
- Square Footage: 16,374
- Price Per Square Foot: $1,612
- Address: 259 Worth Avenue, Palm Beach
The buyer of this property is Motcomb Estates Limited. On the other hand, the sellers involved in this transaction include Fortress Investment Group, Hyde Retail Partners, and Kean Development.
Note: No additional information about the property or the individuals involved in the transaction is available.
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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93