Allen Chelminsky Buys Office Building In Boca Raton From Keystone Property Group For 31.414M
1200 N Federal Hwy
$29,150,000
$212/SF
Building Size
137,021 SF
Asset Type
Office
Closing
Aug 4, 2025
About this deal
AI
The office property located at 1200 North Federal Hwy in Boca Raton was acquired for a total of $31,414,000. The asset spans a total square footage of 137,021, translating to a price per square foot of $229.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,414,000
- Address: 1200 North Federal Hwy
- Market: Boca Raton
- Square Footage: 137,021
- Price Per Square Foot: $229
- Buyer: Allen Chelminsky
- Seller: Keystone Property Group
- Seller's Representatives: Douglas Mandel & Zach Levine - Marcus & Millichap
This transaction involved Allen Chelminsky as the buyer and Keystone Property Group as the seller, with Douglas Mandel and Zach Levine representing the seller through Marcus & Millichap, the brokerage involved in the deal.
On the Map
$29,150,000
$212/SF
Office
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Boca Raton Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93