SOLDOffice
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.
Players
WI
Wexford Real Estate InvestorsBrokerage
CentennialSeller
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