Updated Aug 28, 2026
Steven Gomes Purchases Single Family Home From Philip Edward Ruppe For $12 Million With Elizabeth DeWoody As Representative
240 Tangier Avenue
$12,000,000
$2,682/SF
Building Size
4,473 SF
Asset Type
Single Family Residence
Closing
Aug 10, 2026
About this deal
AI
A single-family asset located at 240 Tangier Avenue in Palm Beach has been sold for $12,000,000. The property encompasses a total square footage of 4,473 with a price per square foot of $2,682.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $12,000,000
- Address: 240 Tangier Avenue
- Market: Palm Beach
- Square Footage: 4,473
- Price per Square Foot: $2,682
- Buyer: Steven Gomes
- Seller: Philip Edward Ruppe
- Seller & Buyer Representative: Elizabeth DeWoody - Compass
The transaction was facilitated by Elizabeth DeWoody, who represented both the buyer, Steven Gomes, and the seller, Philip Edward Ruppe, in the deal, ensuring that all parties were effectively represented throughout the process.
Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.7K per square foot on a published $12M for 4,473 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93