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$20M Boca Raton Single Family Home Sold, Sets New Luxury Home Sales Record

Property Image
SOLD
$20,000,000

Florida

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Single Family Residence9,967 SF
Sold 06/06/2023
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Property Image
SOLD

$20M Boca Raton Single Family Home Sold, Sets New Luxury Home Sales Record

2633 Spanish River Rd Boca Raton, FL 33432, USA

See Similar Deals
Single Family Residence9,967 SF
Sold 06/06/2023
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,006
Total Square Footage:9,967 SF
Transaction Type:Sale

A lavish home located at 2633 Spanish River Road in Boca Raton, Florida, has been sold for an impressive price of $20 million. This transaction exceeded last year's sale price by $2.5 million, highlighting the high demand and prestige of real estate in the area. The property is a single-family home situated on 0.41 acres, offering a total of 9,967 square feet of living space.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $20,000,000
  • Address: 2633 Spanish River Road
  • Market: Boca Raton
  • Asset Type: Single Family
  • Acres: 0.41

This remarkable deal was facilitated by brokers Senada Adzem and Dustin Nero from Douglas Elliman, who represented the parties involved in the transaction. Their expertise and negotiation skills played a crucial role in achieving the successful sale of this luxurious property.

The sale of this exquisite home sets a new benchmark for luxury home sales in Boca Raton, further emphasizing the desirability and exclusivity of the local real estate market.

Players

Senada Adzem
28 deals$657.6M volume
BROKER

Dustin Nero
Douglas Elliman
5 deals$81.3M volume(407) 625-9055
BROKER

Details

SOLD
IMAGE: Dustin Nero & Senada Adzem DATE: 06/06/2023 ADDRESS: 2633 Spanish River Road MARKET: Boca Raton ASSET TYPE: Single Family ~ ACRES: 0.41 BROKERS: Senada Adzem & Dustin Nero - Douglas Elliman SALE PRICE: $20,000,000 SF: 9,967 ~ PPSF: $2,007 NOTE: A lavish home in Boca Raton, Florida, has sold for an astounding $20 million, exceeding last year's price by $2.5 million. This sale reflects the high demand and prestige of real estate in the area, setting a new benchmark for luxury home sales in Boca Raton.

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

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44