Updated Sep 9, 2024
Margit Brandt Acquires SFR On Everglades Island For $27.1M
584 Island Drive, Palm Beach, FL, USA
$13,900,000
$3,086/SF
Building Size
4,503 SF
Asset Type
Single Family Residence
Closing
Apr 6, 2021
About this deal
AI
The recently closed property transaction on Everglades Island, Palm Beach involved the sale of a single-family residence located at 584 Island Drive. The transaction took place on August 3, 2021, and was an off-market deal. The property, which is expected to be completed by 2023, is a new build project. Renderings of the property were done by Dailey Janssen Architects. The buyer's representative in the transaction was Margit Brandt.
Summary of transaction details:
- Property Type: Single Family Residence
- Sale Price: $27,135,000
- Address: 584 Island Drive, Everglades Island, Palm Beach
- Market: Everglades Island, Palm Beach
The sale of the property was facilitated by Margit Brandt, who represented the buyer in the transaction. The off-market deal indicates that the property was not publicly listed for sale. The transaction value for the property amounted to $27,135,000. The new build project is set to be completed by 2023, with renderings provided by Dailey Janssen Architects.
Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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About $3.1K per square foot on a published $13.9M for 4,503 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93