Palm Beach Mansion Near Mar-a-Lago Sells For $21.8M
1080 South Ocean Boulevard
$21,800,000
$2,499/SF
Building Size
8,722 SF
Asset Type
Single Family
Closing
Feb 2, 2024
AI
A Palm Beach mansion located at 1080 South Ocean Boulevard has been sold for $21.8 million. The Mediterranean-style residence, developed by Todd Michael Glaser and his partners, offers stunning ocean views and high-end finishes. Spanning across 0.4 acres, the property features five bedrooms and luxurious amenities.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $21,800,000
- Address: 1080 South Ocean Boulevard
- Market: Palm Beach
- Asset Type: Single Family
- Acres: 0.4
The buyer of 1080 South Ocean Boulevard is the 1080 South Ocean Boulevard Trust, while the sellers include Todd Michael Glaser, Scott Robins, and Jonathan Fryd. Representing the buyer is Linda Olsson from Linda R. Olsson, and Suzanne Frisbie from The Corcoran Group represents the sellers. The mansion spans across 8,722 square feet, with a price per square foot of $2,499.
It is worth noting that this Palm Beach property offers not only a luxurious living space but also breathtaking ocean views. The collaboration between Todd Michael Glaser and his partners has resulted in a magnificent Mediterranean-style residence that combines elegance and comfort.
Players
Palm Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93