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1150 North Ocean Way, Palm ...

Torburn Partners Acquires Single Family Home In Palm Beach For $12M
SOLDSingle Family Residence

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

Liza Pulitzer

Brown Harris Stevens

Broker

$182.8M

vol

12 deals

Broker

Michael Burns

Torburn Partners

Buyer

$97.9M

vol

3 deals

Buyer

Mary Elizabeth Mettler Veres

Seller

$19.9M

vol

2 deals

Seller

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