Updated Dec 21, 2023
Margit Brandt Acquires Palm Beach Island SFR For $7.9M
1421 N Lake Way, Palm Beach, FL 33480
$7,885,000
$3,301/SF
Building Size
2,388 SF
Asset Type
Single Family Residence
Closing
Feb 17, 2022
About this deal
AI
A single-family residence located at 1421 N Lake Way in Palm Beach Island has been sold for a total amount of $7,885,000. The property, which features an area of 2,388 square feet, was sold by Margit Brandt of Compass. The sale took place on February 18, 2022, making this transaction a closed deal in the Palm Beach Island market.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $7,885,000
- Address: 1421 N Lake Way
- Market: Palm Beach Island
Margit Brandt, representing Compass, acted as the broker for this transaction. The price per square foot for the property was approximately $3,302.
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $3.3K per square foot on a published $7.9M for 2,388 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93