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165 Seaspray Ave, Palm Beac...

Colleen & Robert K. DeVeer III Acquire Palm Beach Single Family For $9M
SOLDSingle Family Residence

Colleen & Robert K. DeVeer III Acquire Palm Beach Single Family For $9M

165 Seaspray Ave, Palm Beach, FL, USA

$9,000,000

$2,019/SF

Building Size

4,457 SF

Asset Type

Single Family Residence

Closing

Apr 25, 2021

AI

The single-family property located at 165 Seaspray Ave in Palm Beach has been sold in a recent transaction. The property, with a total area of 4,457 square feet, was purchased by Colleen and Robert K. deVeer III. The sellers, Mary Frances Garrett and Tom Garrett, enlisted the services of Elizabeth DeWoody from Compass Fl. The buying party was represented by Jack Elkins and Bunny Hiatt from William Raveis South Florida. The sale of this property closed at a price of $9,000,000, resulting in a price per square foot of $2,019.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $9,000,000
  • Square Footage: 4,457
  • Market: Palm Beach
  • Buyer: Colleen & Robert K. deVeer III
  • Seller: Mary Frances Garrett & Tom Garrett
  • Buyer's Representative: Jack Elkins & Bunny Hiatt - William Raveis South Florida
  • Seller's Representative: Elizabeth DeWoody - Compass Fl

This transaction showcases the involvement of key individuals and companies. The buyers, Colleen and Robert K. deVeer III, sought the expertise of Jack Elkins and Bunny Hiatt from William Raveis South Florida to represent them in the deal. On the other hand, Elizabeth DeWoody from Compass Fl represented the sellers, Mary Frances Garrett and Tom Garrett. With their guidance and negotiations, the property at 165 Seaspray Ave was successfully sold at a price of $9,000,000.

Players

Jack Elkins

William Raveis Real Estate

Broker

$135.3M

vol

6 deals

Broker

Mary Frances Garrett

Seller

$44M

vol

3 deals

Seller

Palm Beach 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

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93