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Stefano Santoro & Fran Frisbie Facilitate Sale Of Retail Building In Palm Beach

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SOLD
$3,900,000

Florida

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Retail2,145 SF
Sold 04/29/2024
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Property Image
SOLD

Stefano Santoro & Fran Frisbie Facilitate Sale Of Retail Building In Palm Beach

175 Bradley Place

See Similar Deals
Retail2,145 SF
Sold 04/29/2024
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,818
Total Square Footage:2,145 SF
Transaction Type:Sale

The commercial building located at 175 Bradley Place in Palm Beach was sold for $3.9 million. Spanning 2,145 square feet, the property was previously the headquarters of Todd Michael Glaser's development firm. The transaction took place at a price of $1,818 per square foot.

Summary of transaction details:

Stefano Santoro of Disruptive Real Estate, along with Fran Frisbie of The Corcoran Group, facilitated the transaction of the commercial building. This sale marks one of the eight retail trades in Palm Beach during the initial four months of 2024, with notable acquisitions attributed to the Breakers.

Players

Stefano Santoro
28 deals$256.8M volume(732) 241-1940
BROKER

Fran Frisbie
The Corcoran Group
1 deal$3.9M volume(215) 353-8636
BROKER

Details

SOLD
IMAGE: Stefano Santoro & Fran Frisbie DATE: 04/29/2024 ADDRESS: 175 Bradley Place MARKET: Palm Beach ASSET TYPE: Retail SELLER: Todd Michael Glaser (@ToddMichaelGlaser) BUYER'S REP: Stefano Santoro (@StefSantoro) - Disruptive Real Estate (@DisruptiveRealEstate) SELLER'S REP: Fran Frisbie (@FFrisbie) - The Corcoran Group (@TheCorcoranGroup) SALE PRICE: $3,900,000 SF: 2,145 ~ PPSF: $1,818 NOTE FROM BUYER'S REP: Stefano Santoro of Disruptive Real Estate, in collaboration with Fran Frisbie of The Corcoran Group, successfully facilitated the sale of a commercial building in Palm Beach to plastic surgeon for $3.9 million. The property, located at 175 Bradley Pl. just four blocks north of The Royal Poinciana Plaza on Palm Beach Island, spans 2,145 square feet (SF) and was previously Todd Michael Glaser’s development firm headquarters. Santoro represented the buyer, negotiating the transaction at a price of $1,818 per square foot (PSF), while Frisbie represented the seller. This sale is one of eight retail trades in Palm Beach within the first four months of 2024, with three of those acquisitions attributed to the Breakers.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
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