The Breakers Palm Beach Acquires Package Deal From East West Bank For $11.575M
SOLD
$11,575,000
Florida
See Similar DealsPackage Deal57,036 SF
Sold 03/25/2026
SOLD
The Breakers Palm Beach Acquires Package Deal From East West Bank For $11.575M
1041 45th Street & 1021 45th Street
See Similar DealsPackage Deal57,036 SF
Sold 03/25/2026
Summary
FLORIDA
Asset Type:Package Deal
Price Per Square Foot:$202
Total Square Footage:57,036 SF
Transaction Type:Sale
A package deal consisting of two properties located at 1041 45th Street and 1021 45th Street in West Palm Beach was sold for $11,575,000. The total square footage of the properties is 57,036, resulting in a price per square foot of $203.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $11,575,000
- Address: 1041 45th Street & 1021 45th Street
- Market: West Palm Beach
- Buyer: The Breakers Palm Beach
- Seller: East West Bank
- Seller's Representatives: Bastian Schauer, Mark M. Rubin & Ryan Buckner - Colliers
The transaction involved key participants such as The Breakers Palm Beach as the buyer and East West Bank as the seller. The representatives from Colliers, Bastian Schauer, Mark M. Rubin, and Ryan Buckner, facilitated the deal on behalf of the seller.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$617,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,123.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,871.41
Annual Debt Service$658,456.86
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