PSL 1850 LLC Acquires West Palm Beach Office Building For $7.5M
603 Village Boulevard, West Palm Beach, FL, USA
$7,500,000
$252/SF
Building Size
29,722 SF
Asset Type
Office
Closing
Jan 30, 2020
AI
Located at 603 Village Boulevard in West Palm Beach, this office property has recently been sold in a closed transaction. The sale took place on January 31, 2020. The property, owned by Rolling Mill LLC and represented by I.C. Tillman Jr., was purchased by PSL 1850 LLC, represented by Donald Shapiro.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $7,500,000
- Square Footage: 29,722 SF
- Price per Square Foot: $252
- Address: 603 Village Boulevard, West Palm Beach
The involvement of Donald Shapiro from PSL 1850 LLC as the buyer and I.C. Tillman Jr. from Rolling Mill LLC as the seller contributed to the successful completion of this transaction.
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93