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Jim Randall Acquires West Palm Beach Single Family For $16M

Property Image
SOLD
$16,000,000

Florida

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Single Family Residence7,524 SF
Sold 10/04/2022
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Property Image
SOLD

Jim Randall Acquires West Palm Beach Single Family For $16M

3240 North Flagler Drive, West Palm Beach, Florida 33407, United States

See Similar Deals
Single Family Residence7,524 SF
Sold 10/04/2022
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,126
Total Square Footage:7,524 SF
Transaction Type:Sale

The single-family property located at 3240 North Flagler Drive in West Palm Beach has been sold for a total of $16,000,000. The property spans an area of 7,524 square feet and has a price per square foot of $2,127. The transaction took place on October 4, 2022.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $16,000,000
  • Market: West Palm Beach
  • Address: 3240 North Flagler Drive
  • Buyer: Jim Randall
  • Seller: Lawrence Rolnick & Kimberly Sorrentino
  • Buyer's Representative: William Sarnie - Simon Isaacs Real Estate
  • Seller's Representative: Elizabeth DeWoody - Compass
  • Square Footage: 7,524
  • Price Per Square Foot: $2,127

Jim Randall was the buyer of the property, while Lawrence Rolnick and Kimberly Sorrentino were the sellers. William Sarnie from Simon Isaacs Real Estate represented the buyer, and Elizabeth DeWoody from Compass represented the sellers in the deal.

Players

Elizabeth DeWoody
9 deals$120.9M volume
BROKER

BUYER

Details

SOLD
IMAGE: Elizabeth DeWoody & Jim Randall DATE: 10/04/2022 ADDRESS: 3240 North Flagler Drive MARKET: West Palm Beach ASSET TYPE: Single Family BUYER: Jim Randall SELLER: Lawrence Rolnick & Kimberly Sorrentino BUYER'S REP: William Sarnie - Simon Isaacs Real Estate (@SimonIsaacsRealEstate) SELLER'S REP: Elizabeth DeWoody (@Elizabeth_DeWoody)- Compass (@Compass) (@CompassFl) SALE PRICE: $16,000,000 SF: 7,524 ~ PPSF: $2,127

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

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95