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
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