Torburn Partners Acquires Single Family Home In Palm Beach For $12M
1150 North Ocean Way, Palm Beach, Florida 33480, United States
$12,000,000
$3,000,000/SF
Building Size
4 SF
Asset Type
Single Family Residence
Closing
Dec 10, 2022
AI
A single-family property located at 1150 North Ocean Way in Palm Beach has been sold for $12,000,000. The property spans approximately 4,000 square feet, resulting in a price per square foot of $3,000.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $12,000,000
- Address: 1150 North Ocean Way, Palm Beach
- Square Footage: 4,000 sqft
- Price Per Square Foot: $3,000
Torburn Partners, represented by Michael Burns, acquired the property from Mary Elizabeth Mettler Veres. The transaction was facilitated by brokers Whitney McGurk and Liza Pulitzer from Brown Harris Stevens.
Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93