Steve Wynn Acquires SFR In Palm Beach For $49M From Seller Pat Carney & Lillian Carney
SOLD
$49,000,000
Florida
See Similar DealsSingle Family Residence13,375 SF
Sold 03/13/2021
SOLD
Steve Wynn Acquires SFR In Palm Beach For $49M From Seller Pat Carney & Lillian Carney
1350 North Lake Way, Palm Beach, FL, USA
See Similar DealsSingle Family Residence13,375 SF
Sold 03/13/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$3,663
Total Square Footage:13,375 SF
Transaction Type:Sale
On March 13, 2021, a single-family home located at 1350 N. Lake Way in Palm Beach was sold in a transaction. The property spans 13,375 square feet and is characterized by its prime location by the lake. The sale price for this property was $49,000,000, resulting in a price per square foot of $3,664.
Summary of transaction details
- Property Type: SFR
- Date: 03/13/2021
- Address: 1350 N. Lake Way
- Market: Palm Beach
- Buyer: Steve Wynn
- Seller: Lillian Carney, Pat Carney - Claremont Cos.
- Price: $49,000,000
- Square Footage: 13,375
- Price per Square Foot: $3,664
The buyer, Steve Wynn, acquired the property from Lillian Carney and Pat Carney of Claremont Cos., acting as the sellers in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$174,086.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$232,285.00
Annual Debt Service$2,787,419.98
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