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120 Jungle Road, Palm Beach...

Ramrod LLC Acquires Palm Beach Single Family From Jim Clark - Netscape For $30.1M
SOLDSingle Family Residence

Ramrod LLC Acquires Palm Beach Single Family From Jim Clark - Netscape For $30.1M

120 Jungle Road, Palm Beach, FL, USA

$30,100,000

$1,674/SF

Building Size

17,972 SF

Asset Type

Single Family Residence

Closing

Apr 12, 2021

AI

Ramrod LLC has purchased a single-family property in Palm Beach from Jim Clark, the founder of Netscape. The transaction was facilitated by Lawrence Moens of Lawrence A. Moens Associates.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $30,100,000
  • Square Footage: 17,972
  • Price Per Square Foot: $1,675

This significant sale took place on April 13, 2021, in the Palm Beach market. The property is notable for its expansive size, offering nearly 18,000 square feet of living space.

Ramrod LLC acted as the buyer in this transaction, acquiring the property from Jim Clark, the renowned entrepreneur behind Netscape. Represented by Lawrence Moens of Lawrence A. Moens Associates, the deal exemplifies the expertise and reputation of the involved parties.

Players

Lawrence Moens

Broker

$2.4B

vol

64 deals

Broker

Jim Clark

Seller

$205.1M

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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93