The Breakers Palm Beach Acquires Package Deal From East West Bank For $11.575M
1041 45th Street & 1021 45th Street
$11,575,000
$202/SF
Building Size
57,036 SF
Asset Type
Package Deal
Closing
Mar 24, 2026
AI
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
Mangonia Park Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93