Updated Sep 9, 2024
Premier Estate Properties Represents Buyer In $25M Palm Beach SFR Transaction
1741 S Ocean Blvd Palm Beach, FL 33480, USA
$25,000,000
$3,908/SF
Building Size
6,396 SF
Asset Type
Single Family Residence
Closing
Jun 1, 2023
About this deal
AI
A single-family residence located at 1741 South Ocean Boulevard in Palm Beach has been sold for a total of $25,000,000. The property spans a total of 6,396 square feet, resulting in a price per square foot of $3,909.
Summary of transation details
- Property Type: SFR
- Transaction Amount: $25,000,000
- Address: 1741 South Ocean Boulevard
- Market: Palm Beach
In this transaction, the sellers of the property were Judith and Morty Simpkins. The buyer's representative in the deal was Margit Brandt from Premier Estate Properties, while the seller's representative was Thor Brown from Douglas Elliman.
It is worth noting that the original buyer, , assigned the contract to a new buyer. The assignment was executed by Laura Pope at Sotheby's Palm Beach.
On the Map
$25,000,000
$3,908/SF
Single Family Residence
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93