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158 Palm Avenue

Record Breaking Sale On Palm Island: William Campbell Sells SFR For $32M
SOLDSingle Family Residence

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

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

Lourdes Alatriste

Douglas Elliman

Broker

$535.9M

vol

38 deals

Broker

Market Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

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