Philip Braunstein Acquires West Palm Beach Office Building For $35M
450 South Australian Avenue, West Palm Beach, Florida 33401, United States
$35,000,000
$300/SF
Building Size
116,627 SF
Asset Type
Office
Closing
Feb 16, 2022
About this deal
AI
The office building located at 450 S Australian Ave, 400 S Australian Ave, and 1010 Clearwater Pl in West Palm Beach, FL has been sold. The transaction took place on February 17, 2022.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $35,000,000
- Size: 116,627 square feet
- Price per Square Foot: $300
- Address: 450 S Australian Ave, 400 S Australian Ave, 1010 Clearwater Pl, West Palm Beach, FL
- Market: West Palm Beach, FL
The buyer of the property is Philip Braunstein, and the seller is Steven Levin.
On the Map
$35,000,000
$300/SF
Office
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Players
West 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93