Updated Oct 28, 2024
Schweb Partners Acquires Multifamily Property In West Palm Beach For $41.4M
2210 N Australian Ave, West Palm Beach, FL, USA
$41,400,000
$239/SF
Building Size
172,578 SF
Asset Type
MultiFamily
Closing
Aug 4, 2021
About this deal
AI
A multifamily property located at 2210 N Australian Ave in West Palm Beach has been sold for a price of $41,400,000. The property consists of 252 units, resulting in a per unit price of $164,286. The transaction took place on August 5, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $41,400,000
- Address: 2210 N Australian Ave
- Market: West Palm Beach
- Buyer: Schweb Partners
- Seller: Grand Peaks Properties
- Brokers: Jaret Turkell, Omar Morales & Roberto Pesant - Berkadia
- Units: 252
- Price Per Unit (PPU): $164,286
Jaret Turkell, Omar Morales, and Roberto Pesant from Berkadia represented the buyer and seller in this transaction.
On the Map
$41,400,000
$239/SF
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93