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Phillip Ragon Of InterSystems Acquires 287, 291 & 299 Ocean Blvd, Golden Beach For $90M

Property Image
SOLD
$90,000,000
Daniel (Danny) Hertzberg
Pablo Alfaro
+ 5

Florida

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Single Family Residence15,731 SF
Sold 06/08/2022
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Property Image
SOLD

Phillip Ragon Of InterSystems Acquires 287, 291 & 299 Ocean Blvd, Golden Beach For $90M

287 Ocean Boulevard, Golden Beach, Florida 33160, United States

See Similar Deals
Single Family Residence15,731 SF
Sold 06/08/2022
Daniel (Danny) Hertzberg
Pablo Alfaro
+ 5
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$5,721
Total Square Footage:15,731 SF
Transaction Type:Sale

Three parcels of land located at 287, 291, and 299 Ocean Boulevard in Golden Beach have been sold in a recent transaction. The total size of the property is approximately 1.7 acres, making it an attractive investment opportunity in the area.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $90,000,000 (Approx.)
  • Property Size: 1.7 acres
  • Square Footage: 15,731
  • Price per Square Foot: $5,721
  • Market: Golden Beach

The buyer of these properties is Phillip Ragon, representing InterSystems. The seller is comprised of multiple parties including B. Mitchell and Lori Grabois, Silverlane Realty LLC, and Bruce Weber and Nan Bush. The buyer's representatives in this transaction are Eloy Carmenate and Mick Duchon from Corcoran, while the seller is represented by Danny Hertzberg and Jonathan Mann from The Jills Zeder Group - Coldwell Banker, and Pablo Alfaro from Douglas Elliman.

Players

Eloy Carmenate
32 deals$584.2M volume(305) 582-7179
BROKER

Pablo Alfaro
Douglas Elliman
13 deals$242.2M volume(305) 613-1186
BROKER

Michael (Mick) Duchon
The Corcoran Group
36 deals$670.3M volume(732) 754-7535
BROKER

Daniel (Danny) Hertzberg
Coldwell Banker
63 deals$1.6B volume
BROKER

Jonathan (Jon) Mann
Coldwell Banker
22 deals$348.6M volume
BROKER

BUYER

2 deals$113.8M volume
SELLER

2 deals$113.8M volume
SELLER

2 deals$135M volume
SELLER

Details

SOLD
IMAGE: Pablo Alfaro, Phillip Ragon, Danny Hertzberg, Mick Duchon, Jonathan Mann & Eloy Carmenate DATE: 06/08/2022 ADDRESS: 287, 291 & 299 Ocean Boulevard MARKET: Golden Beach ASSET TYPE: Single Family ~ ACRES: 1.7 BUYER: Phillip Ragon - InterSystems SELLER: B. Mitchell & Lori Grabois; Silverlane Realty LLC; Bruce Weber & Nan Bush BUYER'S REP: Eloy Carmenate (@Eloy_Carmenate) & Mick Duchon (@Mick_Duchon) - Corcoran (@TheCorcoranGroup) SELLER'S REP: Danny Hertzberg (@DannyHertzberg) & Jonathan Mann (@JonMannRealtor) - The Jills Zeder Group - Coldwell Banker (@JillsZederBeach); Pablo Alfaro (@PabloAlfaroRealEstate) - Douglas Elliman (@DouglasElliman) (@DouglasEllimanFlorida) SALE PRICE: $90,000,000 (Approx.) SF: 15,731 ~ PPSF: $5,721

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

$4,800,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99