Updated Sep 9, 2024
Marc & Mari Schneebaum Acquire $14.8M Waterfront Mansion In Boca Raton
2909 Spanish River Rd, Boca Raton, FL 33432
$14,800,000
$1,370/SF
Building Size
10,800 SF
Asset Type
Single Family Residence
Closing
Jul 24, 2023
About this deal
AI
A waterfront spec mansion located at 2909 Spanish River Road in Boca Raton has been sold for $14.8 million. The property, with a total of 10,800 square feet, sits on 0.3 acres of land. It features five bedrooms, six bathrooms, and two half-bathrooms.
Summary of transaction details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $14,800,000
- Address: 2909 Spanish River Road, Boca Raton
- Market: Boca Raton
- Acres: 0.3
The buyer of the property is Marc and Mari Schneebaum, while the seller is Catherine Stile. Rona Namer, a representative from Coldwell Banker Realty, assisted the buyer in the transaction. On the other hand, the seller was represented by David Roberts and Kelly Brooks from Sanctuary Realty.
Marc Schneebaum, a pharmaceutical chief, and his wife acquired the waterfront mansion after resolving a lawsuit with their Delray Beach country club.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93