Edwards Companies Acquires 2.2 Acre Co-op In Ocean Ridge For $29M
6855 North Ocean Boulevard, Ocean Ridge, Florida 33435, United States
$29,000,000
Building Size
—
Asset Type
Other
Closing
Oct 26, 2022
AI
The property involved in this transaction is a co-op located at 6855 North Ocean Boulevard in Ocean Ridge. The property spans across 2.2 acres and was sold on 10/27/2022.
Summary of transation details
- Property Type: Co-op
- Transaction Amount: $29,000,000
- Number of Units: 22
- Price Per Unit: $1,318,182
The buyer of the property is Edwards Companies. The deal was facilitated by brokers Brad Capas and Robert Given from Cushman & Wakefield. The lender involved in the transaction was First Republic Bank.
Players
Ocean Ridge Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93