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Keith E. Rowling Of Merrill Lynch Acquires Delray Beach SFR For $8M

Property Image
SOLD
$8,000,000
Betty Devitt
Cole Devitt
KR

Florida

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Single Family Residence60,000 SF
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the dealplayerscompscontact
Property Image
SOLD

Keith E. Rowling Of Merrill Lynch Acquires Delray Beach SFR For $8M

2985 N Ocean Blvd, Delray Beach, FL 33483, USA

See Similar Deals
Single Family Residence60,000 SF
Sold
Betty Devitt
Cole Devitt
KR
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$133
Total Square Footage:60000 SF
Transaction Type:Sale

The property located at 2985 North Ocean Boulevard in Delray Beach has been sold for $8,000,000. This single-family residence (SFR) spans 6,000 square feet and was sold at a price of $1,333 per square foot.

Summary of Transaction Details

  • Property Type: SFR
  • Transaction Amount: $8,000,000
  • Square Footage: 6,000
  • Price per Square Foot: $1,333
  • Address: 2985 North Ocean Boulevard, Delray Beach
  • Market: Delray Beach

The sellers of the property were Marjorie and John L. McGraw. The buyer, Keith E. Rowling, represented Merrill Lynch in the transaction. The brokers involved in this deal were Cole and Betty Devitt of The Corcoran Group.

Players

Betty Devitt
The Corcoran Group
Betty Devitt
2 deals$11.8M volume(561) 573-4391
BROKER
Cole Devitt
The Corcoran Group
Cole Devitt
2 deals$11.8M volume(561) 926-0125
BROKER
KR
Keith Rowling
2 deals$11.8M volume
BUYER
KR
Keith Rowling
2 deals$11.8M volume
BUYER

Details

SOLD
IMAGE: Keith E. Rowling, Cole Devitt & Betty Devitt⁠ DATE: 08/31/2020⁠ ADDRESS: 2985 North Ocean Boulevard⁠ MARKET: Delray Beach⁠ ASSET TYPE: SFR⁠ PRICE: $8,000,000⁠ SF: 6,000⁠ PPSF: $1,333⁠ SELLER: Marjorie & John L. McGraw⁠ BUYER: Keith E. Rowling – Merrill Lynch⁠ BROKERS: Cole & Betty Devitt – The Corcoran Group⁠

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

$426,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98