Martin G Mcguinn Jr Acquires Other Vacant Property In Palm Beach, FL For $14.5M
1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States
$14,500,000
$6,009/SF
Building Size
2,413 SF
Asset Type
Other
Closing
Mar 6, 2022
About this deal
AI
The property involved in this transaction is an Other Vacant asset located at 1556 N Ocean Blvd in Palm Beach, FL. The property was sold on 03/07/2022.
Summary of transaction details
- Property Type: Other Vacant
- Transaction Amount: $14,500,000
- Address: 1556 N Ocean Blvd, Palm Beach, FL
- Market: Palm Beach, FL
The buyer in this transaction is Martin G Mcguinn Jr, while the seller is Howard Lance & Kerrie Lance.
The other sale at 1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States in Palm Beach, Florida sold for $14.5M in 2022. The building is 2,413 square feet, implying about 6K per square foot on the published price. Named participants on the 1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States sale are Howard Lance, Kerrie Lance. This page is the Palm Beach, Florida file for the 1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States other sold: pricing, party profiles, and other closed other comps from the same Palm Beach sit in the Market section below. Filter that Palm Beach other set by closing date to see what else sold near 1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States around 2022. Published consideration for 1556 South Ocean Boulevard, Palm Beach, Florida 33480, United States is $14.5M, dated 2022. Cite this Martin G Mcguinn Jr Acquires Other Vacant Property In Palm Beach, FL For $14.5M sale when underwriting similar other product around Palm Beach, Florida.
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Palm Beach Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93