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4601 North Congress Avenue,...

Ed Brown Acquires Office Building In West Palm Beach For $6.3M
SOLDOffice

Ed Brown Acquires Office Building In West Palm Beach For $6.3M

4601 North Congress Avenue, West Palm Beach, FL, USA

$6,300,000

$247/SF

Building Size

25,453 SF

Asset Type

Office

Closing

Aug 31, 2021

AI

The office property located at 4601 N Congress Avenue in West Palm Beach has been sold in a recent transaction. The property, with a total area of 25,453 square feet, was sold for a price of $6,300,000, resulting in a price per square foot of $248. The sale took place on August 31, 2021.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $6,300,000
  • Address: 4601 N Congress Avenue, West Palm Beach
  • Market: West Palm Beach

The buyer of the property was Ed Brown, while the seller was Joshua Hirth. Representing the seller in the transaction were Mark M. Rubin and Bastian Laggerbauer from Colliers International.

Please note that no additional information was provided regarding the transaction.

Players

Mark M. Rubin

Colliers

Broker

$896.8M

vol

37 deals

Broker

Ed Brown

Buyer

$22.8M

vol

2 deals

Buyer

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

2.52%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93