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240 Sanford Avenue, Palm Be...

Diana Willson Sterne Acquires Palm Beach SFR For $5.5M
SOLDSingle Family Residence

Diana Willson Sterne Acquires Palm Beach SFR For $5.5M

240 Sanford Avenue, Palm Beach, FL, USA

$5,500,000

$1,112/SF

Building Size

4,946 SF

Asset Type

Single Family Residence

Closing

Dec 8, 2020

AI

A single-family residential property located at 240 Sanford Avenue in Palm Beach has been sold for $5,500,000. The property spans 4,946 square feet, resulting in a price per square foot of approximately $1,112. The transaction took place on December 9, 2020.

Summary of transaction details

  • Property Type: Single Family Residential
  • Transaction Amount: $5,500,000
  • Address: 240 Sanford Avenue
  • Market: Palm Beach

The buyers in the deal were Diana Willson Sterne, representing The Atlas Group, and James Sterne from Skye Global Management. On the other side, Maria Marchetti and Amos O. Dare, of Neurosurgery & Orthopedic Institute of Florida, acted as the sellers. The real estate brokers involved in the transaction were Carole Koeppel and Suzanne Ainslie from Sotheby's International Realty.

Players

Carole Koeppel

Broker

$26M

vol

3 deals

Broker

Palm Beach Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93