Updated Sep 9, 2024
Rechelle & Brad Richards Acquire Single Family Home In North Palm Beach For $8.1M
North Palm Beach, FL, USA
$8,100,000
$1,724/SF
Building Size
4,696 SF
Asset Type
Single Family Residence
Closing
Apr 28, 2021
About this deal
AI
Brad Richards recently purchased a single-family property located in North Palm Beach. The transaction took place on April 29, 2021. The property, owned by William D. Edwards, was sold for a total price of $8,100,000. The property spans across 4,696 square feet, resulting in a price per square foot of $1,725. The deal was facilitated by James Kenny from K2 Realty, who represented the buyer in the transaction.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $8,100,000
- Buyer: Rechelle & Brad Richards
- Seller: William D. Edwards
- Broker: James Kenny - K2 Realty
- Market: North Palm Beach
The purchase of this property represents an investment by Brad Richards and Rechelle into the North Palm Beach market. Their acquisition of this single-family property with a spacious size of 4,696 square feet demonstrates their confidence in the area's real estate value. James Kenny of K2 Realty played a crucial role as the buyer's representative in negotiating the deal, ensuring a successful transaction for all parties involved.
On the Map
$8,100,000
$1,724/SF
Single Family Residence
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North 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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93