Baloobeach Acquires Palm Beach Single Family For $72.9M
SOLD
Florida
See Similar DealsSingle Family Residence12,352 SF
Sold 12/05/2022
SOLD
Baloobeach Acquires Palm Beach Single Family For $72.9M
Palm Beach Gardens, Florida, United States
See Similar DealsSingle Family Residence12,352 SF
Sold 12/05/2022
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$5,901
Total Square Footage:12,352 SF
Transaction Type:Sale
Tomas Maier has sold his property in Palm Beach for $72,900,000. The single-family home, situated on 0.76 acres, spans 12,352 square feet. The sale price translates to a price per square foot of $5,902.
Summary of Transaction Details
- Property Type: Single Family
- Transaction Amount: $72,900,000
- Market: Palm Beach
- Acres: 0.76
The buyer, Baloobeach, acquired the property from Tomas Maier and Andrew Preston. The sale was facilitated by Lawrence Moens of Lawrence A. Moens Associates. JPMorgan Chase provided the financing for the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,888,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$258,998.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$345,583.19
Annual Debt Service$4,146,998.30
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