Updated Oct 28, 2024
Kingdom Development Acquires Multifamily Properties In West Palm Beach For $59.3M
1001 36th Street, West Palm Beach, FL, USA
$59,300,000
Units
309
Asset Type
MultiFamily
Closing
Dec 8, 2021
About this deal
AI
The recent sale in West Palm Beach involved a multifamily property located at 1001 36th Street, 1210 Palm Beach Lakes Boulevard, and 345 30th Street. This property spans over 14.3 acres and consists of 309 units. The transaction took place on 12/08/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $59,300,000
- Units: 309
- Acres: 14.3
- Market: West Palm Beach
The buyer in this transaction was Kingdom Development, represented by William Leach. The seller was Shloime Rosenberg. The deal was facilitated by brokers Tal Frydman and Hampton Beebe from Newmark Multifamily Capital Markets.
On the Map
$59,300,000
MultiFamily
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Players
West Palm Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93