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

Property Image
SOLD
$6,300,000
Mark M. Rubin
Bastian Schauer
EB

Florida

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Office25,453 SF
Sold 08/31/2021
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Property Image
SOLD

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

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

See Similar Deals
Office25,453 SF
Sold 08/31/2021
Mark M. Rubin
Bastian Schauer
EB
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$247
Total Square Footage:25,453 SF
Transaction Type:Sale

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
Mark M. Rubin
37 deals$896.8M volume(561) 302-2511
BROKER
Bastian Schauer
Colliers
Bastian Schauer
42 deals$3B volume(561) 281-6656
BROKER
EB
Ed Brown
2 deals$22.8M volume
BUYER

Details

SOLD
IMAGE: Bastian Laggerbauer & Mark M. Rubin DATE: 08/31/2021 ADDRESS: 4601 N Congress Avenue MARKET: West Palm Beach ASSET TYPE: Office BUYER: Ed Brown SELLER: Joshua Hirth SELLER'S REP: Mark M. Rubin (@SofloInvestmentSales) & Bastian Laggerbauer (@Bastian1992) - Colliers International ASKING PRICE: $6,500,000 SALE PRICE: $6,300,000 SF: 25,453 ~ PPSF: $248

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$336,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57