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Kip Taylor Acquires Oceanfront Property On Jupiter Island In $16.5M Deal

Property Image
SOLD
$16,500,000
Kimiko DeGuchi
Carla Christenson
Holly Meyer Lucas

Florida

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Single Family Residence4,900 SF
Sold 07/27/2023
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Property Image
SOLD

Kip Taylor Acquires Oceanfront Property On Jupiter Island In $16.5M Deal

613 S Beach Rd Jupiter, FL 33469, USA

See Similar Deals
Single Family Residence4,900 SF
Sold 07/27/2023
Kimiko DeGuchi
Carla Christenson
Holly Meyer Lucas
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$3,367
Total Square Footage:4,900 SF
Transaction Type:Sale

A 0.8-acre oceanfront property located at 613 South Beach Road in Jupiter Island, Florida, has been sold for $16.5 million. The property includes a 4,900-square-foot single-family home, which is expected to be demolished to make way for new construction.

Summary of transation details

  • Property Type: Single-Family Home
  • Transaction Amount: $16,500,000
  • Size: 0.8 acres
  • Address: 613 South Beach Road, Jupiter Island, Florida
  • Market: Jupiter Island

The buyer, Kip Taylor, acquired the property from the estate of Clyde R. "Buzz" Gibb, a late developer. Represented by Holly Meyer Lucas from Compass, Kip Taylor saw potential in this oceanfront property and intends to create a new construction project. The seller's representatives in the deal were Carla Christenson and Kimiko Deguchi from One Sotheby’s International Realty.

This transaction exemplifies the continuous development in the real estate market, with investors recognizing the value and potential of premium oceanfront properties like this one in Jupiter Island, Florida.

Players

Holly Meyer Lucas
Compass
Holly Meyer Lucas
7 deals$101.3M volume
BROKER
Carla Christenson
Sotheby's International Realty
Carla Christenson
2 deals$26.4M volume
BROKER
Kimiko DeGuchi
Sotheby's International Realty
Kimiko DeGuchi
3 deals$28.2M volume
BROKER

Details

SOLD
IMAGE: Holly Meyer Lucas & Carla Christenson DATE: 07/27/2023 ADDRESS: 613 South Beach Road MARKET: Jupiter Island ASSET TYPE: SFR ~ ACRES: 0.8 BUYER: Kip Taylor BUYER'S REP: Holly Meyer Lucas - Compass (@Compass) (@CompassFL) SELLER'S REP: Carla Christenson & Kimiko Deguchi - One Sotheby’s International Realty (@ONESIR) SALE PRICE: $16,500,000 SF: 4,900 ~ PPSF: $3,367 NOTE: Homebuilder Kip Taylor purchased an oceanfront property on Jupiter Island, Florida, for $16.5 million from the estate of late developer Clyde R. "Buzz" Gibb. The 0.8-acre property includes a 4,900-square-foot home, but it is expected to be torn down to make way for new construction.

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

$880,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01