Updated Sep 5, 2024
The Corcoran Group Represents Buyer In $36M Sale Of Palm Beach SFR
130 Banyan Rd, Palm Beach, FL 33480, USA
$11,100,000
$1,149/SF
Building Size
9,653 SF
Asset Type
Single Family Residence
Closing
Apr 27, 2020
About this deal
AI
Cindy and John Sites have sold their property located at 720 South Ocean Boulevard in Palm Beach. The single-family residential (SFR) property has a spacious area of 14,000 square feet and was sold for a price of $36,000,000. This translates to a price per square foot (PPSF) of $2,571, reflecting the high value of the property.
Summary of transaction details
- Property Type: Single-family residential (SFR)
- Transaction Amount: $36,000,000
- Square Footage: 14,000 sqft
- Price per Square Foot (PPSF): $2,571
- Address: 720 South Ocean Boulevard, Palm Beach
- Market: Palm Beach
The buyer was represented by The Corcoran Group, while the seller, Cindy and John Sites, had Christian Angle from Christian Angle Real Estate acting as their representative in the deal. The involvement of these key individuals and their respective agencies showcases the collaborative effort behind this successful transaction.
Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93