Updated Dec 4, 2024
Starwood Capital Group Acquires Multifamily Portfolio In Lake Park, Greenacres & Palm Beach For $176.4M
301 Congress Avenue, West Palm Beach, Florida 33403, United States
$176,400,000
$238,378/SF
Building Size
740 SF
Asset Type
MultiFamily
Closing
Dec 30, 2021
About this deal
AI
The multifamily property located at 301 North Congress Avenue, 303 North Congress Avenue, 101 Pine Circle, and 8215 Belvedere Road in Lake Park, Greenacres, and Palm Beach has been sold. The sale was completed on 12/30/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $176,400,000
- Square Footage: 740
- Price per Square Foot: $238,378
The buyer of the property is Starwood Capital Group, represented by Barry Sternlicht. The seller of the property is Southport Financial Services.
The multifamily sale at 301 Congress Avenue, West Palm Beach, Florida 33403, United States in West Palm Beach, Florida sold for $176.4M in 2021. The building is 740 square feet, implying about 238.4K per square foot on the published price. Named participants on the 301 Congress Avenue, West Palm Beach, Florida 33403, United States sale are Barry Sternlicht. This page is the West Palm Beach, Florida file for the 301 Congress Avenue, West Palm Beach, Florida 33403, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same West Palm Beach sit in the Market section below. Filter that West Palm Beach multifamily set by closing date to see what else sold near 301 Congress Avenue, West Palm Beach, Florida 33403, United States around 2021. Published consideration for 301 Congress Avenue, West Palm Beach, Florida 33403, United States is $176.4M, dated 2021. Cite this Starwood Capital Group Acquires Multifamily Portfolio In Lake Park, Greenacres & Palm Beach For $176.4M sale when underwriting similar multifamily product around West Palm Beach, Florida.
West Palm Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Barry Sternlicht to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93