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

Property Image
SOLD
$9,785,000
Suzanne Frisbie
LM
PC

Florida

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Single Family Residence7,091 SF
Sold 03/26/2021
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Property Image
SOLD

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

241 El Vedado Road, Palm Beach, FL, USA

See Similar Deals
Single Family Residence7,091 SF
Sold 03/26/2021
Suzanne Frisbie
LM
PC
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,379
Total Square Footage:7,091 SF
Transaction Type:Sale

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

LM
Lawrence Moens
64 deals$2.4B volume(561) 655-5510
BROKER
Suzanne Frisbie
The Corcoran Group
Suzanne Frisbie
47 deals$1.4B volume
BROKER
PC
Paul Courchene
2 deals$18.9M volume
SELLER
PC
Paul Courchene
2 deals$18.9M volume
SELLER

Details

SOLD
IMAGE: Paul Courchene DATE: 12/13/2022 ADDRESS: 220 Jungle Road MARKET: Palm Beach ASSET TYPE: Single Family ~ ACRES: 0.4 SELLER: Courchene Development Corporation (@CourcheneDevelopmentCorp) - Paul Courchene LENDER: Rocket Mortgage (@RocketMortgage) SALE PRICE: $32,000,000

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

$521,866.68

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$34,764.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,385.89
Annual Debt Service$556,630.70