Ken Fishel's Renaissance Properties NY Acquires Office Building In Boca Raton For $51M
1515 Federal Highway, Boca Raton, Florida 33432, United States
$51,000,000
$283/SF
Building Size
179,837 SF
Asset Type
Office
Closing
Oct 6, 2022
AI
The property involved in this closed transaction is an office located at 1515 S Federal Hwy in Boca Raton. The transaction took place on 10/07/2022 and the market for this property is Boca Raton. The asset type is an office building.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $51,000,000
- Address: 1515 S Federal Hwy
- Market: Boca Raton
The buyer in this transaction is Ken Fishel from Renaissance Properties NY. The seller is Mark A. Gensheimer from Penn Florida Companies. The buyer's representative is Maria Gomez from Powerful Real Estate, and the seller's representatives are Mark Rubin and Bastian Laggerbauer from Colliers International.
The property was sold for a total of $51,000,000, with a total square footage of 179,837. The price per square foot is $284.
Players
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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93