901 Building LLC Acquires Office Property In West Palm Beach For $12.35M
901 Northpoint Parkway, West Palm Beach, FL, USA
$12,350,000
$155/SF
Building Size
79,516 SF
Asset Type
Office
Closing
Jan 6, 2020
About this deal
AI
An office property located at 901 Northpoint Parkway in West Palm Beach has been sold for $12,350,000. The property spans across 79,516 square feet, resulting in a price per square foot of $155. This transaction took place on January 7, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,350,000
- Address: 901 Northpoint Parkway, West Palm Beach
- Market: West Palm Beach
- Buyer: 901 Building LLC - Alex Sirulnik
- Seller: Northpoint Investments Partnership
- Brokers: Jason Hochman, Greg Miller, Scott O’Donnell, Miguel Alcivar, Michael Ciadella - Cushman & Wakefield, Michael Falk, Scott Weprin - Colliers International
The deal was facilitated by brokers from Cushman & Wakefield and Colliers International, namely Jason Hochman, Greg Miller, Scott O’Donnell, Miguel Alcivar, Michael Ciadella, Michael Falk, and Scott Weprin. Alex Sirulnik of 901 Building LLC served as the buyer, while the seller was Northpoint Investments Partnership.
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
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93