H. William Perry Acquires Office Building In Palm Beach For $17M
450 Royal Palm Way, Palm Beach, FL, USA
$17,000,000
$518/SF
Building Size
32,778 SF
Asset Type
Office
Closing
Feb 23, 2021
About this deal
AI
The office property located at 450 Royal Palm Way in Palm Beach has been sold. The transaction took place on February 24, 2021. The property, spanning 32,778 square feet, was sold for a price of $17,000,000, resulting in a price per square foot of $519. The buyer of the property was H. William Perry, while the seller was Alexander H. Griswold.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,000,000
- Square Footage: 32,778
- Price per Square Foot: $519
- Buyer: H. William Perry
- Seller: Alexander H. Griswold
- Date of Transaction: February 24, 2021
The successful sale of the office property was facilitated by H. William Perry, who represented the buyer, and Alexander H. Griswold, who represented the seller in this transaction.
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Boca Raton Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93