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1515 Federal Highway, Boca ...

Ken Fishel's Renaissance Properties NY Acquires Office Building In Boca Raton For $51M
SOLDOffice

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

Mark M. Rubin

Colliers

Broker

$896.8M

vol

37 deals

Broker
Kenneth Fishel

Kenneth Fishel

Renaissance Properties NY

Buyer

$173.1M

vol

6 deals

Buyer

Mark A. Gensheimer

Penn Florida Companies

Seller

$718.6M

vol

4 deals

Seller

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