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Estée Lauder Family Acquires SFR In Palm Beach For $25.4M Via Jim McCann

Property Image
SOLD
$25,400,000
James (Jim) McCann
RL
WL

Florida

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Single Family Residence10,224 SF
Sold 05/08/2020
the dealplayerscompscontact
Property Image
SOLD

Estée Lauder Family Acquires SFR In Palm Beach For $25.4M Via Jim McCann

1063 North Ocean Boulevard, Palm Beach, FL, USA

See Similar Deals
Single Family Residence10,224 SF
Sold 05/08/2020
James (Jim) McCann
RL
WL
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,484
Total Square Footage:10,224 SF
Transaction Type:Sale

The property involved in this transaction is a single-family home located at 1063 North Ocean Boulevard in Palm Beach. The property has a total area of 10,224 square feet. The sale took place on May 8, 2020. The property was sold for a price of $25,400,000, which equates to $2,484 per square foot.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $25,400,000
  • Address: 1063 North Ocean Boulevard
  • Market: Palm Beach
  • Square Footage: 10,224
  • Price per Square Foot: $2,484

The buyer in this transaction is the Estée Lauder family, specifically Ronald Lauder and William Lauder. The seller is Morton Mandel with representation from Thomas A. Mandel and Bradley S. Smith. The broker involved in this deal is Jim McCann from Premier Estate Properties.

Players

James (Jim) McCann
Premier Estate Properties
James McCann
22 deals$541.1M volume(561) 307-1525
BROKER
RL
Ronald Lauder
2 deals$45.4M volume
BUYER
WL
William Lauder
3 deals$87.9M volume
BUYER

Details

SOLD
IMAGE: Jim McCann, Ronald Lauder & William Lauder DATE: 05/08/2020 ADDRESS: 1063 North Ocean Boulevard MARKET: Palm Beach ASSET TYPE: SFR PRICE: $25,400,000 SF: 10,224 PPSF: $2,484 BUYER: Estée Lauder family - Ronald Lauder & William Lauder SELLER: Morton Mandel - Thomas A. Mandel & Bradley S. Smith BROKER: Jim McCann - Premier Estate Properties

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

$1,354,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,240.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,408.96
Annual Debt Service$1,444,907.50