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

Property Image
SOLD
$12,000,000
Whitney McGurk
Liza Pulitzer
MV
+ 1

Florida

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Single Family Residence4 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

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

1150 North Ocean Way, Palm Beach, Florida 33480, United States

See Similar Deals
Single Family Residence4 SF
Sold
Whitney McGurk
Liza Pulitzer
MV
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$3000000
Total Square Footage:4 SF
Transaction Type:Sale

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
Liza Pulitzer
11 deals$155.5M volume
BROKER
Whitney McGurk
Brown Harris Stevens
Whitney McGurk
7 deals$104.5M volume
BROKER
MB
Michael Burns
3 deals$97.9M volume
BUYER
MV
Mary Elizabeth Mettler Veres
2 deals$19.9M volume
SELLER

Details

SOLD
IMAGE: Liza Pulitzer & Whitney McGurk DATE: 10/12/2022 ADDRESS: 1150 North Ocean Way MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Torburn Partners - Michael Burns SELLER: Mary Elizabeth Mettler Veres BROKERS: Whitney McGurk (@WhitneyMcGurk) & Liza Pulitzer (@Pulitzer_McGurk_Team) - Brown Harris Stevens (@BrownHarrisStevens) SALE PRICE: $12,000,000 SF: 4,000 ~ PPSF: $3,000

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

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47