David P. Phillips & Randall T. Jones Sr Acquire Office Building In West Palm Beach For $56.5M
6868 Forest Hill Boulevard, West Palm Beach, Florida 33413, United States
$56,500,000
$8,844/SF
Building Size
6,388 SF
Asset Type
Office
Closing
Jun 2, 2022
About this deal
AI
An office building located at 6868 Forest Hill Blvd in West Palm Beach, FL was recently sold on June 3, 2022. The property spans 6,388 square feet and was sold for a total price of $56,500,000, resulting in a price per square foot of $8,844.
Summary of Transaction Details
- Property Type: Office Building
- Transaction Amount: $56,500,000
- Address: 6868 Forest Hill Blvd, West Palm Beach, FL
- Market: West Palm Beach, FL
The buyers of the office building are David P. Phillips and Randall T. Jones Sr, while the seller is Stuart Rothstein.
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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93