JPMorgan Chase Acquires Office Building In West Palm Beach For $5.7M
3914 S Dixie Hwy, West Palm Beach, FL 33405, USA
$5,700,000
$237/SF
Building Size
24,000 SF
Asset Type
Office
Closing
Apr 27, 2020
About this deal
AI
JPMorgan Chase has acquired an office property located at 3914 South Dixie Hwy in West Palm Beach. The property, with a total square footage of 24,000, was sold by Flagler Realty & Development. The transaction price for the property was $5,700,000, leading to a price per square foot of $237.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,700,000
- Address: 3914 South Dixie Hwy, West Palm Beach
- Market: West Palm Beach
- Buyer: JPMorgan Chase
- Seller: Flagler Realty & Development – Patrick Koenig, Richard Johnson, Jr. & Scott Johnson
- Total Square Footage: 24,000
- Price per Square Foot: $237
This acquisition was made by JPMorgan Chase, a prominent player in the financial industry, through a transaction with Flagler Realty & Development. Patrick Koenig, Richard Johnson, Jr., and Scott Johnson represented the seller in the deal.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93