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
Palm Beach 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93