Azora Private Solutions Acquires Retail Property In West Palm Beach For $7.25M From Gatsby Florida
SOLD
$7,250,000
Florida
See Similar DealsRetail6,400 SF
Sold 11/24/2025
SOLD
Azora Private Solutions Acquires Retail Property In West Palm Beach For $7.25M From Gatsby Florida
550 Okeechobee Boulevard
See Similar DealsRetail6,400 SF
Sold 11/24/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,132
Total Square Footage:6,400 SF
Transaction Type:Sale
The transaction involves a retail property located at 550 Okeechobee Boulevard in West Palm Beach. The property was sold for a price of $7,250,000. It comprises 6,400 square feet, resulting in a price per square foot of $1,132. This sale marks a significant milestone as the highest price per foot investment sale in the history of West Palm Beach.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,250,000
- Buyer: Azora Private Solutions
- Seller: Gatsby Florida
- Seller's Representative: Michael Ciadella - Cushman & Wakefield
- Square Footage: 6,400
- Price Per Square Foot: $1,132
Michael Ciadella represented the seller in this transaction while enhancing the competitive landscape of investment sales in the region. The involvement of Azora Private Solutions indicates a strategic acquisition in the retail market of West Palm Beach.
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$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
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