Gulf Stream Trust Acquires Palm Beach Single Family For $24M With Buyer's Rep Patricia Mahaney & Seller's Rep Gary Pohrer
150 Brazilian Ave, Palm Beach
$8,250,000
$1,449/SF
Building Size
5,693 SF
Asset Type
Single Family Residence
Closing
Jul 30, 2020
AI
A single-family property located at 124 Brazilian Avenue in Palm Beach has been sold. The property covers an area of 0.4 acres and was sold for a price of $24,000,000. The sale took place on November 15, 2022. The property measures 6,755 square feet, resulting in a price per square foot of $3,553. The transaction was facilitated by real estate agent Gary Pohrer from Douglas Elliman, representing the seller Susan Burch and Robert Burch of Redbadge. The buyer, Gulf Stream Trust, was represented by Patricia Mahaney from Sotheby’s International Realty.
Summary of transation details
- Property Type: Single Family
- Transaction Amount: $24,000,000
- Address: 124 Brazilian Avenue
- Market: Palm Beach
- Acres: 0.4
Gary Pohrer from Douglas Elliman represented the seller, Susan Burch and Robert Burch, in the transaction. Patricia Mahaney from Sotheby’s International Realty represented the buyer, Gulf Stream Trust. The sale of the property marks a significant transaction in the Palm Beach real estate market.
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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93