Updated Dec 20, 2023
Nick Antonopoulos Acquires Multifamily Property In Royal Palm Beach, FL For $31.5M
8215 Belvedere Road, West Palm Beach, Florida 33411, United States
$31,500,000
$518/SF
Building Size
60,759 SF
Asset Type
MultiFamily
Closing
Dec 20, 2021
About this deal
AI
Located at 8215 Belvedere Rd in Royal Palm Beach, FL, the recently sold multifamily property offers a total square footage of 60,759. The sale took place on December 21, 2021, with a transaction amount of $31,500,000. This translates to a price per square foot (PPSF) of $518.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,500,000
- Address: 8215 Belvedere Rd, Royal Palm Beach, FL
- Market: Royal Palm Beach, FL
- Buyer: Nick Antonopoulos
- Seller: David J. Page & Scott Seckinger & Michael Molinari
Nick Antonopoulos successfully acquired the property from the sellers, David J. Page, Scott Seckinger, and Michael Molinari, in this significant transaction. The deal was finalized at a price of $31,500,000, reflecting a PPSF of $518 for the 60,759 square foot multifamily asset.
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93