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106 Hammond Avenue, Palm Be...

Chad & Doug Clark Acquire Multifamily Property In Palm Beach For $14.7M
SOLDMultiFamily

Chad & Doug Clark Acquire Multifamily Property In Palm Beach For $14.7M

106 Hammond Avenue, Palm Beach, Florida 33480, United States

$14,700,000

Building Size

Asset Type

MultiFamily

Closing

Mar 28, 2022

AI

The multifamily property located at 106 Hammon Avenue in Palm Beach has been sold for a total price of $14,700,000. The sale took place on 03/29/2022. The property consists of 6 units, with each unit being approximately valued at $2,450,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $14,700,000
  • Address: 106 Hammon Avenue
  • Market: Palm Beach

Chad & Doug Clark have acted as the buyers in this transaction, while Jean Bernard Pierre Louis served as the seller. The brokerage firm Brown Harris Stevens represented both parties in the deal, with Sabra Kirkpatrick and Richard Berman being the brokers involved.

Players

Sabra Kirkpatrick

Brown Harris Stevens

Broker

$33M

vol

4 deals

Broker

Jean Bernard Pierre-Louis

Seller

$30M

vol

2 deals

Seller

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

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93