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Michael Sussman & Renee Licht Acquire SFR In Palm Beach For $7.5M

Property Image
SOLD
$7,500,000
Samantha Curry
Paulette Koch

Florida

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Single Family Residence4,186 SF
Sold 03/31/2022
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Property Image
SOLD

Michael Sussman & Renee Licht Acquire SFR In Palm Beach For $7.5M

242 Everglade Avenue, Palm Beach, Florida 33480, United States

See Similar Deals
Single Family Residence4,186 SF
Sold 03/31/2022
Samantha Curry
Paulette Koch
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,791
Total Square Footage:4,186 SF
Transaction Type:Sale

A single-family home located at 242 Everglade Ave in Palm Beach has been sold for $7,500,000. The property spans 4,186 square feet, resulting in a price per square foot of $1,792. The transaction took place on March 31, 2022.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $7,500,000
  • Address: 242 Everglade Ave, Palm Beach
  • Square Footage: 4,186
  • Price Per Square Foot: $1,792

Micheal Sussman and Renee Licht were the buyers of the property, while the seller was Peter M Buchman Trustee, Shirley M Buchman Trust. Paulette Koch from The Corcoran Group represented the buyers, and Samantha Curry from Douglas Elliman represented the sellers in the transaction.

Players

Paulette Koch
The Corcoran Group
Paulette Koch
22 deals$545.2M volume
BROKER
Samantha Curry
Douglas Elliman
Samantha Curry
18 deals$247.4M volume(561) 530-2227
BROKER

Details

SOLD
IMAGE: Samantha Curry & Paulette Koch DATE: 03/31/2022 ADDRESS: 242 Everglade Ave MARKET: Palm Beach ASSET TYPE: SFR BUYER: Micheal Sussman & Renee Licht SELLER: Peter M Buchman Trustee, Shirley M Buchman Trust BUYER'S REP: Paulette Koch (@Kochteam) - The Corcoran Group SELLER'S REP: Samantha Curry (@SamanthaSellsPalmBeach) - Douglas Elliman SALE PRICE: $7,500,000 SF: 4,186 ~ PPSF: $1,792

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

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92