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221 Essex Lane, West Palm B...

West Palm Beach Single Family Sells For $8.7M With Buyer's Rep Sabra Kirkpatrick & Sarah Koenig
SOLDSingle Family Residence

West Palm Beach Single Family Sells For $8.7M With Buyer's Rep Sabra Kirkpatrick & Sarah Koenig

221 Essex Lane, West Palm Beach, Florida 33405, United States

$8,700,000

$1,319/SF

Building Size

6,596 SF

Asset Type

Single Family Residence

Closing

Jan 3, 2022

AI

Located in West Palm Beach, the single-family property at 221 Essex Lane has recently been sold for a price of $8,700,000. Spanning across 6,596 square feet, the property sits on a generous 0.7-acre lot. This transaction took place on January 3, 2022.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $8,700,000
  • Address: 221 Essex Lane
  • Market: West Palm Beach
  • Acres: 0.7

The buyers of this property were Andrew and Mary Lago, while the sellers were DRI Fund represented by Steven and Jeffrey Kirsch. Sabra Kirkpatrick and Sarah Koenig from Brown Harris Stevens acted as the buyer's representatives, while Thor Brown from Douglas Elliman represented the sellers.

With a price per square foot of $1,319, this transaction showcased a remarkable property in West Palm Beach. The buyers, represented by Sabra Kirkpatrick and Sarah Koenig of Brown Harris Stevens, seized the opportunity to acquire this impressive single-family home from the sellers, with Thor Brown serving as their representative. This deal emphasized the value and appeal of the property, solidifying its position as a desirable asset in the West Palm Beach market.

Players

Sabra Kirkpatrick

Brown Harris Stevens

Broker

$33M

vol

4 deals

Broker

West 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

1.82%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93