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8:28 Florida Properties LLC Acquires Single Family Home In North Palm Beach For $22M

Property Image
SOLD
$22,000,000

Florida

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Single Family Residence7,823 SF
Sold 03/17/2022
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Property Image
SOLD

8:28 Florida Properties LLC Acquires Single Family Home In North Palm Beach For $22M

North Palm Beach, Florida, United States

See Similar Deals
Single Family Residence7,823 SF
Sold 03/17/2022
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,812
Total Square Footage:7,823 SF
Transaction Type:Sale

Located in North Palm Beach, this single-family property was sold on March 17, 2022, for a staggering $22,000,000. The transaction was facilitated by Sheila Crosby of One Sotheby's International Realty, representing the buyer, 8:28 Florida Properties LLC, owned by Dan Lonergan. The seller, Robert J. Trulaske Jr., was represented by Susan Callahan from Lost Tree Realty. The property spans over 7,823 square feet, resulting in a price per square foot of $2,812.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $22,000,000
  • Market: North Palm Beach
  • Buyer: 8:28 Florida Properties LLC - Dan Lonergan
  • Seller: Robert J. Trulaske Jr.
  • Buyer's Representative: Sheila Crosby - One Sotheby's International Realty
  • Seller's Representative: Susan Callahan - Lost Tree Realty
  • Lender: Bank Of America
  • Property Size: 7,823 square feet
  • Price per Square Foot: $2,812

The involvement of key individuals and companies in this deal emphasizes the professional expertise and reputation behind the transaction. Sheila Crosby of One Sotheby's International Realty skillfully represented the buyer, 8:28 Florida Properties LLC, led by Dan Lonergan. On the other side, Susan Callahan from Lost Tree Realty represented the seller, Robert J. Trulaske Jr. Bank Of America acted as the lender in this transaction, providing the necessary financial support.

Players

Sheila Crosby
4 deals$79.1M volume
BROKER

Susan Callahan
2 deals$31.9M volume
BROKER

BUYER

Details

SOLD
IMAGE: Sheila Crosby DATE: 03/17/2022 MARKET: North Palm Beach ASSET TYPE: Single Family BUYER: 8:28 Florida Properties LLC - Dan Lonergan SELLER: Robert J. Trulaske Jr. BUYER'S REP: Sheila Crosby - One Sotheby's International Realty SELLER'S REP: Susan Callahan - Lost Tree Realty LENDER: Bank Of America SALE PRICE: $22,000,000 SF: 7,823 ~ PPSF: $2,812

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

$1,173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69