CSPB 324 LLC Acquires Mixed-use Property In Palm Beach For $18.5M
324 Royal Palm Way, Palm Beach, FL, USA
$18,500,000
$738/SF
Building Size
25,068 SF
Asset Type
Mixed-use
Closing
Jun 2, 2020
About this deal
AI
324 Royal Palm Way, a mixed-use property located in Palm Beach, was recently sold in a closed transaction. The sale took place on 06/02/2021, with CSPB 324 LLC purchasing the property from RPW Equity LLC. The transaction was facilitated by Richard Baio of RPW LLC, who served as the broker representing both parties.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $18,500,000
- Address: 324 Royal Palm Way, Palm Beach
- Market: Palm Beach
- Buyer: CSPB 324 LLC
- Seller: RPW Equity LLC
- Broker: Richard Baio - RPW LLC
- SF: 25,068
- Price per Square Foot: $738
This transaction demonstrates the robust real estate market in Palm Beach, with a significant investment made in a mixed-use property. The involvement of Richard Baio from RPW LLC highlights the importance of having an experienced broker in such high-value deals. This successful transaction further solidifies the reputation of all parties involved in the Palm Beach real estate market.
Players
Boca Raton 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93