Courchene Development Corporation Sells Palm Beach Single Family Property For $32M
241 El Vedado Road, Palm Beach, FL, USA
$9,785,000
$1,379/SF
Building Size
7,091 SF
Asset Type
Single Family Residence
Closing
Mar 25, 2021
AI
The sale of a single-family property located at 220 Jungle Road in Palm Beach has been finalized. The property spans across 0.4 acres, offering ample space and privacy. The transaction was completed on 12/13/2022, and the property was sold for a total price of $32,000,000. The seller of the property is Courchene Development Corporation, represented by Paul Courchene. The lender involved in the transaction was Rocket Mortgage.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $32,000,000
- Address: 220 Jungle Road, Palm Beach
- Market: Palm Beach
- Asset Type: Single Family
- Acres: 0.4
Paul Courchene, representing Courchene Development Corporation, played a crucial role in the sale of the property. Rocket Mortgage served as the lender for the transaction, facilitating the successful completion of the deal. The sale of this single-family property in Palm Beach marks a significant milestone in the real estate market.
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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93