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Under-Construction Palm Beach Home In South Ocean Boulevard Placed Under Contract For $43.5M By Lynda & Anthony Lomangino

Property Image
SOLD
$43,500,000
LM
AL

Florida

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Single Family Residence9,580 SF
Sold 08/24/2023
the dealplayerscompscontact
Property Image
SOLD

Under-Construction Palm Beach Home In South Ocean Boulevard Placed Under Contract For $43.5M By Lynda & Anthony Lomangino

1742 S Ocean Blvd Palm Beach, Fl 33480, Usa

See Similar Deals
Single Family Residence9,580 SF
Sold 08/24/2023
LM
AL
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$4,540
Total Square Footage:9,580 SF
Transaction Type:Sale

An under-construction Palm Beach home at 1742 S. Ocean Blvd., with a $43.5 million price tag, has been placed under contract. The West Indies-style house, developed by Anthony Lomangino's company, boasts six bedrooms and 9,580 sq ft of living space.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $43,500,000
  • Address: 1742 South Ocean Boulevard
  • Market: Palm Beach

The under-construction Palm Beach home at 1742 South Ocean Boulevard has been placed under contract. Developed by Anthony Lomangino's company, the West Indies-style house offers six bedrooms and has 9,580 sq ft of living space. The property is located in the Palm Beach market.

Players

LM
Lawrence Moens
64 deals$2.4B volume(561) 655-5510
BROKER
AL
Anthony Lomangino
5 deals$175.3M volume
SELLER

Details

SOLD
IMAGE: CONTRACT IMAGE: Anthony Lomangino DATE: 08/24/2023 ADDRESS: 1742 South Ocean Boulevard MARKET: Palm Beach ASSET TYPE: SFR SELLER: Lynda & Anthony Lomangino BROKER: Lawrence Moens - Lawrence A. Moens Associates PRICE: $43,500,000 SF: 9,580 ~ PPSF: $4,541 NOTE: An under-construction Palm Beach home at 1742 S. Ocean Blvd., with a $43.5 million price tag, has been placed under contract. The West Indies-style house, developed by Anthony Lomangino's company, boasts six bedrooms and 9,580 sq ft of living space.

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

$2,320,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$154,546.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$206,212.19
Annual Debt Service$2,474,546.31