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Todd Michael Glaser, Scott Robins & Jonathan Fryd Acquire Palm Beach Single Family For $16.4M

Property Image
SOLD
$16,400,000
Liza Pulitzer
+ 3

Florida

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Single Family Residence7,073 SF
Sold 04/28/2021
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Property Image
SOLD

Todd Michael Glaser, Scott Robins & Jonathan Fryd Acquire Palm Beach Single Family For $16.4M

576 Island Drive, Palm Beach, FL, USA

See Similar Deals
Single Family Residence7,073 SF
Sold 04/28/2021
Liza Pulitzer
+ 3
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,318
Total Square Footage:7,073 SF
Transaction Type:Sale

The single-family property located at 576 Island Drive in Palm Beach has been sold in a recent transaction. The property spans 7,073 square feet and was sold for a price of $16,400,000, resulting in a price per square foot of $2,319. The transaction took place on April 28, 2021.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $16,400,000
  • Square Footage: 7,073
  • Price per Square Foot: $2,319
  • Address: 576 Island Drive, Palm Beach
  • Market: Palm Beach

The buyer of the property is a group consisting of Todd Michael Glaser, Scott Robins, and Jonathan Fryd. They were represented by Whitney McGurk and Liza Pulitzer from Brown Harris Stevens. The seller, Christine Fisher-Grow, was represented by Lawrence Moens from Lawrence A. Moens Associates.

Players

64 deals$2.4B volume(561) 655-5510
BROKER

Liza Pulitzer
12 deals$182.8M volume
BROKER

Whitney McGurk
Brown Harris Stevens
7 deals$104.5M volume
BROKER

Scott Robins
10 deals$209.5M volume
BUYER

Todd Michael Glaser
41 deals$974.3M volume
BUYER

10 deals$198.5M volume
BUYER

10 deals$198.5M volume
BUYER

Details

SOLD
IMAGE: Liza Pulitzer, Jonathan Fryd, Todd Michael Glaser & Whitney McGurk DATE: 04/28/2021 ADDRESS: 576 Island Drive MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Todd Michael Glaser, Scott Robins & Jonathan Fryd SELLER: Christine Fisher-Grow BUYER'S REP: Whitney McGurk & Liza Pulitzer - Brown Harris Stevens SELLER'S REP: Lawrence Moens - Lawrence A. Moens Associates PRICE: $16,400,000 SF: 7,073 ~ PPSF: $2,319

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

$874,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,265.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,744.37
Annual Debt Service$932,932.40