Updated Dec 19, 2023
James Dinan Acquires Palm Beach SFR For $49.1M - 520 Island Drive
520 Island Drive, Palm Beach, FL, USA
$49,141,600
$2,858/SF
Building Size
17,190 SF
Asset Type
Single Family Residence
Closing
May 17, 2021
About this deal
AI
The recently closed property transaction took place in Palm Beach at 520 Island Drive. The asset in question is a single-family residential property with a total area of 17,190 square feet. The sale was finalized on 05/18/2021 for a total sale price of $49,141,600, resulting in a price per square foot of $2,859. The property itself spans over 13,025 square feet under air, with a price per square foot of $3,773.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $49,141,600
- Address: 520 Island Drive
- Market: Palm Beach
The buyer of the property is James Dinan, while the seller is Corey Schottenstein. Chris Deitz and Lawrence Moens represented the buyer, James Dinan, in this transaction. On the other hand, Suzanne Frisbie acted as the seller's representative. It's worth noting that the seller, Corey Schottenstein, also received a $4.5 million judgment from a previous defaulted contract.
On the Map
$49,141,600
$2,858/SF
Single Family Residence
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Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.9K per square foot on a published $49.1M for 17,190 square feet (2021).
Visit Christopher "Chris" Deitz to view all their deals.
Browse Florida single family residence sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93