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2985 N Ocean Blvd, Delray B...

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

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

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

$8,000,000

$133/SF

Building Size

60,000 SF

Asset Type

Single Family Residence

Closing

Aug 30, 2020

AI

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

Broker

$11.8M

vol

2 deals

Broker

Keith Rowling

Buyer

$11.8M

vol

2 deals

Buyer

Delray Beach Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93