Randall Realty Group Acquires Office From The Silverman Group In Palm Beach
2875 S Ocean BLVD, Palm Beach, FL...
$15,000,000
$490/SF
Building Size
30,600 SF
Asset Type
Office
Closing
Jan 19, 2023
About this deal
AI
The property at 2875 S Ocean BLVD, Palm Beach, FL is an office asset with a size of 30,600 square feet. The transaction took place on 01/19/2023 in Palm Beach. The buyer, represented by Michael (Mike) Ciadella from Cushman & Wakefield, was Randall Realty Group, while the seller was The Silverman Group. The property was sold for $15,000,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,000,000.00
- Address: 2875 S Ocean BLVD, Palm Beach, FL
- Market: Palm Beach
- Buyer's Representative: Michael (Mike) Ciadella (Cushman & Wakefield)
- Seller: The Silverman Group
- Square Footage: 30,600
The deal involved key individuals and companies like Michael (Mike) Ciadella representing the buyer, Randall Realty Group, in the transaction with The Silverman Group as the seller.
On the Map
$15,000,000
$490/SF
Office
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Players
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93