Schweb Partners Acquires Multifamily Property In West Palm Beach For $41.4M
SOLD
$41,400,000
Florida
See Similar DealsMultiFamily172,578 SF
Sold 08/05/2021
SOLD
Schweb Partners Acquires Multifamily Property In West Palm Beach For $41.4M
2210 N Australian Ave, West Palm Beach, FL, USA
See Similar DealsMultiFamily172,578 SF
Sold 08/05/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$239
Total Square Footage:172,578 SF
Transaction Type:Sale
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.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,208,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$147,085.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$196,257.12
Annual Debt Service$2,355,085.46
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