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Levy Realty Advisors Acquires Palm Beach Gardens Office For $16.8M

Property Image
SOLD
$16,800,000
Alan Levy
Scott O'Donnell
Michael (Mike) Ciadella

Florida

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Office34,867 SF
Sold
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Property Image
SOLD

Levy Realty Advisors Acquires Palm Beach Gardens Office For $16.8M

3507 Kyoto Gardens Drive, Palm Beach Gardens, FL, USA

See Similar Deals
Office34,867 SF
Sold
Alan Levy
Scott O'Donnell
Michael (Mike) Ciadella
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$481
Total Square Footage:34867 SF
Transaction Type:Sale

Located in Palm Beach Gardens, the office property at 3507 Kyoto Gardens Drive has been sold in a recent transaction. The property spans approximately 34,867 square feet and was sold for a price of $16,800,000, resulting in a price per square foot of $482. The sale took place on October 21, 2021.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $16,800,000
  • Address: 3507 Kyoto Gardens Drive
  • Market: Palm Beach Gardens

Levy Realty Advisors, represented by David Dimston and Amy Berko Illes, acquired the property from TA Realty. On the buyer's side, Alan Levy from Levy Realty Advisors served as the representative. Scott O’Donnell and Mike Ciadella from Cushman & Wakefield represented the seller, TA Realty, in the transaction.

Players

Scott O'Donnell
Cushman & Wakefield
Scott O'Donnell
32 deals$608.1M volume
BROKER
Michael (Mike) Ciadella
Cushman & Wakefield
Michael Ciadella
34 deals$617.1M volume
BROKER
Alan Levy
Levy Realty Advisors
Alan Levy
2 deals$66.8M volume
BROKER
TA Realty
TA Realty
SELLER

Details

SOLD
IMAGE: Scott O’Donnell, Alan Levy & Mike Ciadella DATE: 10/21/2021 ADDRESS: 3507 Kyoto Gardens Drive MARKET: Palm Beach Gardens ASSET TYPE: Office BUYER: Levy Realty Advisors - David Dimston & Amy Berko Illes SELLER: TA Realty BUYER'S REP: Alan Levy - Levy Realty Advisors SELLER'S REP: Scott O’Donnell & Mike Ciadella - Cushman & Wakefield SALE PRICE: $16,800,000 SF: 34,867 ~ PPSF: $482

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$895,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$59,686.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$79,640.57
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