Steve Wynn Sells Palm Beach Single Family Property For $32M With Lawrence Moens As Seller's Rep
Palm Beach, Florida, United States
$32,000,000
$6,329/SF
Building Size
5,056 SF
Asset Type
MultiFamily
Closing
Apr 22, 2022
AI
A single-family property in Palm Beach has been sold for $32,000,000. The property, covering 5,056 square feet, was purchased by an undisclosed buyer. The sale was facilitated by Brown Harris Stevens on behalf of the buyer. The seller, Kim Sinatra, who serves as the General Counsel, Executive Vice President, and Secretary at Wynn Resorts, and Steve Wynn, an American real estate developer and art collector, were represented by Lawrence Moens & Associates.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $32,000,000
- Market: Palm Beach
- Square Footage: 5,056
- Seller: Kim Sinatra - General Counsel, Executive Vice President, and Secretary at Wynn Resorts & Steve Wynn - American real estate developer and art collector
- Buyer's Representative: Brown Harris Stevens
- Seller's Representative: Lawrence Moens - Lawrence A. Moens Associates
The buyer's representative, Brown Harris Stevens, worked closely with the undisclosed buyer to facilitate this high-value transaction. The seller, Kim Sinatra, holds prominent positions at Wynn Resorts, while Steve Wynn is a renowned real estate developer and art collector. Lawrence Moens, from Lawrence A. Moens Associates, successfully represented the sellers in this transaction.
Players
Market 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