Michelle Douglas And Kevin Douglas Acquire Palm Beach SFR For $28.5M
SOLD
$28,500,000
+ 3
Florida
See Similar DealsSingle Family Residence7,589 SF
Sold 07/20/2021
SOLD
Michelle Douglas And Kevin Douglas Acquire Palm Beach SFR For $28.5M
Single Family Residence7,589 SF
Sold 07/20/2021
+ 3
Summary
Asset Type:Single Family Residence
Price Per Square Foot:$3,755
Total Square Footage:7,589 SF
Transaction Type:Sale
In a recent closed property transaction in Palm Beach, a Single Family Residence (SFR) was sold for a staggering sale price of $28,500,000. The property spans across 7,589 square feet, resulting in a price per square foot of $3,755. The transaction took place on July 20, 2021, involving buyers Michelle Douglas and Kevin Douglas from IMAX Corp. The sellers of the property were Todd Michael Glaser, Jonathan Fryd, and Scott Robins.
Summary of transaction details
- Property Type: Single Family Residence (SFR)
- Transaction Amount: $28,500,000
- Market: Palm Beach
The buyers were represented by Chad Carroll from The Carroll Group at Compass, while Suzanne Frisbie from The Corcoran Group represented the sellers. This high-end real estate deal demonstrates the strong demand and robust market in Palm Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,519,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48
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