Kobi Karp Acquires Office Building In West Palm Beach For $3.4M
2701 North Australian Avenue
$3,404,000
$260/SF
Building Size
13,064 SF
Asset Type
Office
Closing
Dec 19, 2022
About this deal
AI
The office property located at 2701 North Australian Avenue in West Palm Beach has been sold in a transaction. The property spans 13,064 square feet and was sold for a price of $3,404,000, resulting in a price per square foot of $261. The sale took place on 12/19/2022.
Summary of transation details
- Property Type: Office
- Transaction Amount: $3,404,000
- Address: 2701 North Australian Avenue, West Palm Beach
- Market: West Palm Beach
- Buyer: Kobi Karp, Nancy Karp, and Jordan Karp
- Seller: American Lung Association
- Buyer's Representative: Jordan Karp
- Seller's Representatives: Bastian Laggerbauer & Mark M. Rubin - Colliers International
- Square Footage: 13,064
- Price Per Square Foot: $261
The buyer, Kobi Karp, Nancy Karp, and Jordan Karp were represented by Jordan Karp in this transaction. The seller, American Lung Association, was represented by Bastian Laggerbauer and Mark M. Rubin from Colliers International.
Players
West Palm Beach 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
4.66%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93