David Tepper Acquires $73M Palm Beach SFR From Patrick & Lillian Carney
SOLD
$73,000,000
Florida
See Similar DealsSingle Family Residence12,000 SF
Sold 02/12/2021
SOLD
David Tepper Acquires $73M Palm Beach SFR From Patrick & Lillian Carney
905 North Ocean Boulevard, Palm Beach, FL, USA
See Similar DealsSingle Family Residence12,000 SF
Sold 02/12/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$6,083
Total Square Footage:12,000 SF
Transaction Type:Sale
The asset involved in this transaction is a single-family residence located in Palm Beach, which encompasses a total of 12,000 square feet. The property was sold for $73,000,000, translating to a price per square foot of $6,083.
Summary of transation details:
- Property Type: SFR
- Transaction Amount: $73,000,000
- Buyer: David Tepper
- Seller: Patrick & Lillian Carney
- Market: Palm Beach
- Square Footage: 12,000
- Price per Square Foot: $6,083
David Tepper was the buyer in this transaction, while the sellers were Patrick and Lillian Carney. This deal emphasizes the involvement of significant individuals in the high-value real estate market of Palm Beach.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,893,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$259,353.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$346,057.24
Annual Debt Service$4,152,686.91
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