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Vincent Spadea Of Douglas Elliman Represents Buyer In Lantana Single Family Sale For $23.5M

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SOLD
$23,500,000

Florida

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Single Family Residence12,000 SF
Sold 11/26/2024
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Property Image
SOLD

Vincent Spadea Of Douglas Elliman Represents Buyer In Lantana Single Family Sale For $23.5M

1840 South Ocean Boulevard

See Similar Deals
Single Family Residence12,000 SF
Sold 11/26/2024
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,958
Total Square Footage:12,000 SF
Transaction Type:Sale

The property involved in this transaction is a single-family home located at 1840 South Ocean Boulevard in Lantana. The sale price of the asset was $23,500,000, and the property encompasses a total of 12,000 square feet, resulting in a price per square foot of $1,958.

Summary of transaction details:

Vincent Spadea represented the buyer in this transaction, while the seller was represented by Nicholas Malinosky and Gary Pohrer, both affiliated with Douglas Elliman. This structured representation highlights the collaborative efforts of the brokerage in facilitating the sale.

Players

Gary Pohrer
43 deals$1.1B volume(561) 262-0856
BROKER

Vincent (Vince) Spadea
Douglas Elliman
10 deals$131.1M volume
BROKER

Nicholas (Nick) Malinosky
Douglas Elliman
20 deals$459.4M volume
BROKER

Details

SOLD
IMAGE: Nicholas Malinosky, Vincent Spadea & Gary Pohrer DATE: 11/26/2024 ADDRESS: 1840 South Ocean Boulevard MARKET: Lantana ASSET TYPE: Single Family BUYER'S REP: Vincent Spadea (@VinnyPalmBeach) - Douglas Elliman (@DouglasElliman) SELLER'S REP: Nicholas Malinosky (@RandyandNick) & Gary Pohrer (@GaryPohrer) - Douglas Elliman (@DouglasElliman) SALE PRICE: $23,500,000 SF: 12,000 ~ PPSF: $1,958

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

$1,253,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87