Record Breaking Sale On Palm Island: William Campbell Sells SFR For $32M
158 Palm Avenue
$32,000,000
$2,285/SF
Building Size
14,000 SF
Asset Type
Single Family Residence
Closing
Feb 17, 2023
AI
The record-breaking sale of 158 Palm Avenue in Miami Beach has made headlines in the real estate market. This single-family residence (SFR) was sold for a remarkable price of $32,000,000, setting a new benchmark for Palm Island. The property boasts a generous size of 14,000 square feet, with a price per square foot (PPSF) of $2,286, showcasing the high-value nature of this transaction.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $32,000,000
- Address: 158 Palm Avenue, Miami Beach
- Market: Miami Beach
- Seller: William Campbell
- Buyer's Representative: David Pullman - The Waterfront Team - Sotheby's International Realty
- Seller's Representative: Lourdes Alatriste - Douglas Elliman
The successful completion of this deal was made possible through the expertise and negotiation skills of the buyer's representative, David Pullman from The Waterfront Team at Sotheby's International Realty. Working on behalf of the seller, Lourdes Alatriste from Douglas Elliman played a crucial role in ensuring a smooth transaction.
With its stunning features, prime location, and impressive sale price, the sale of 158 Palm Avenue is truly a remarkable achievement in the Miami Beach real estate market.
Players
Market 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93