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

Property Image
SOLD
$9,000,000
Bunny Hiatt
Jack Elkins
+ 1

Florida

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Single Family Residence4,457 SF
Sold
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Property Image
SOLD

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

165 Seaspray Ave, Palm Beach, FL, USA

See Similar Deals
Single Family Residence4,457 SF
Sold
Bunny Hiatt
Jack Elkins
+ 1
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2019
Total Square Footage:4457 SF
Transaction Type:Sale

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
6 deals$135.3M volume
BROKER

Elizabeth DeWoody
Compass
9 deals$120.9M volume
BROKER

Bunny Hiatt
William Raveis Real Estate
1 deal$9M volume
BROKER

Details

SOLD
IMAGE: Elizabeth DeWoody, Robert K. deVeer III, Bunny Hiatt & Jack Elkins DATE: 04/26/2021 ADDRESS: 165 Seaspray Ave MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Colleen & Robert K. deVeer III SELLER: Mary Frances Garrett & Tom Garrett BUYER'S REP: Jack Elkins & Bunny Hiatt - William Raveis South Florida SELLER'S REP: Elizabeth DeWoody - Compass Fl SALE PRICE: $9,000,000 SF: 4,457 ~ PPSF: $2,019

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10