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Michael Narlinger Acquires $6M Single Family Property In Palm Beach Gardens From David Smith

Property Image
SOLD
$6,500,000
Erin Sykes
Carole Koeppel
MN
+ 1

Florida

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Single Family Residence8,589 SF
Sold 03/29/2021
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Property Image
SOLD

Michael Narlinger Acquires $6M Single Family Property In Palm Beach Gardens From David Smith

12215 Tillinghast Circle, Palm Beach Gardens, FL 33418, USA

See Similar Deals
Single Family Residence8,589 SF
Sold 03/29/2021
Erin Sykes
Carole Koeppel
MN
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$756
Total Square Footage:8,589 SF
Transaction Type:Sale

A single-family property located at 12215 Tillinghast Circle in Palm Beach Gardens has been sold for $6,000,000. The property spans 8,589 square feet and is situated on approximately acres. The sale price per square foot comes to $699, achieving a price per acre of $5,504,587. The transaction took place on March 29, 2021.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $6,000,000
  • Address: 12215 Tillinghast Circle, Palm Beach Gardens
  • Market: Palm Beach Gardens

Michael Narlinger of Brookline Investment Group served as the buyer, while David Smith of Sinclair Broadcast Group was the seller. Erin Sykes and Nest Seekers represented the buyer, and Carole Koeppel of Sotheby's International Realty represented the seller in this transaction.

Players

Carole Koeppel
Carole Koeppel
3 deals$26M volume
BROKER
Erin Sykes
SYKES
Erin Sykes
2 deals$17M volume(609) 517-3071
BROKER
MN
Michael Narlinger
2 deals$83.5M volume
BUYER
DS
David Smith
4 deals$22.6M volume
SELLER
DS
David Smith
4 deals$22.6M volume
SELLER

Details

SOLD
IMAGE: Carole Koeppel & Erin Sykes DATE: 03/29/2021 ADDRESS: 12215 Tillinghast Circle MARKET: Palm Beach Gardens ASSET TYPE: Single Family BUYER: Michael Narlinger - Brookline Investment Group SELLER: David Smith - Sinclair Broadcast Group BUYER'S REP: Erin Sykes & Nest Seekers SELLER'S REP: Carole Koeppel - Sotheby's International Realty ASKING PRICE: $6,500,000 SALE PRICE: $6,000,000 SF: 8,589 ~ PPSF: $699 ACRES: ~ PPA: $5,504,587

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
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