Sylvester Stallone & Jennifer Flavin Acquire Palm Beach SFR Estate For $35.4M
SOLD
Florida
See Similar DealsSingle Family Residence13,241 SF
Sold 12/17/2020
SOLD
Sylvester Stallone & Jennifer Flavin Acquire Palm Beach SFR Estate For $35.4M
1480 North Lake Way, Palm Beach, FL, USA
See Similar DealsSingle Family Residence13,241 SF
Sold 12/17/2020
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,671
Total Square Footage:13,241 SF
Transaction Type:Sale
An SFR Estate located at 1480 N. Lake Way in Palm Beach has been sold for a price of $35,375,000. The property spans across 13,241 square feet with a price per square foot of $2,672.
Summary of transaction details:
- Property Type: SFR Estate
- Transaction Amount: $35,375,000
- Address: 1480 N. Lake Way
- Market: Palm Beach
The buyers of the property are Sylvester Stallone and Jennifer Flavin, while the sellers are Ronald G. and Cindy McMackin. Representing the buyers in the deal was Christian Angle from Christian Angle Real Estate, and Lawrence Moens from Lawrence A. Moens represented the sellers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,886,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$125,679.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$167,695.55
Annual Debt Service$2,012,346.57
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