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1701 Federal Highway

Douglas Elliman Represents Buyer In $3.3M Office Sale In Boca Raton
SOLDOffice

Douglas Elliman Represents Buyer In $3.3M Office Sale In Boca Raton

1701 Federal Highway

$3,296,000

$633/SF

Building Size

5,200 SF

Asset Type

Office

Closing

Dec 15, 2022

AI

The office property located at 1701 N Federal Highway in Boca Raton has been sold. The transaction took place on December 15, 2022. The property spans 5,200 square feet and was sold for a total price of $3,296,000, resulting in a price per square foot of $634.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,296,000
  • Address: 1701 N Federal Highway, Boca Raton
  • Market: Boca Raton

The sellers of the property were Lawrence Clewner and William Kelly. Representing the sellers in the deal were Corey Martier and Nick Myers from Zeustra. On the buyer's side, the representative was Aleksandra Obraztsova from Douglas Elliman.

Players

Aleksandra Obraztsova

Douglas Elliman

Broker

$22.6M

vol

4 deals

Broker

Lawrence Clewner

Seller

$6.6M

vol

2 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

4.81%

Cash-on-Cash

-1.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93