CS Ventures Acquires Office Property In Palm Beach For $37.8M
440 Royal Palm Way, Palm Beach, FL, USA
$37,800,000
$613/SF
Building Size
61,609 SF
Asset Type
Office
Closing
Sep 27, 2021
About this deal
AI
The office property located at 440 Royal Palm Way in Palm Beach has been sold in a recent transaction. The property spans 61,609 square feet and was purchased for a total price of $37,800,000. This equates to a price per square foot of $614.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $37,800,000
- Address: 440 Royal Palm Way
- Market: Palm Beach
- Buyer: CS Ventures - Spencer Schlager & Charles Rosenberg
- Seller: Blue Water Advisors
CS Ventures, represented by Spencer Schlager & Charles Rosenberg, acquired the property from Blue Water Advisors. The transaction showcases the ongoing activity in the Palm Beach office market.
On the Map
$37,800,000
$613/SF
Office
View full map
Players
Boca Raton Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Spencer Schlager to view all their deals.
Browse Boca Raton office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93