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241 El Vedado Road, Palm Be...

Courchene Development Corporation Sells Palm Beach Single Family Property For $32M
SOLDSingle Family Residence

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

Lawrence Moens

Broker

$2.4B

vol

64 deals

Broker

Paul Courchene

Seller

$18.9M

vol

2 deals

Seller

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