facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Single Family Residence

/

Sale

/

North Palm Beach, FL, USA

Rechelle & Brad Richards Acquire Single Family Home In North Palm Beach For $8.1M
SOLDSingle Family Residence

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

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.

Players

James Kenny

K2 Realty

Broker

$216.8M

vol

13 deals

Broker

North Palm Beach Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

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