Erik Moody's 1160 NOB LLC Acquires Palm Beach Oceanfront Home For $31 Million

The property involved in this transaction is a single-family home located at 1160 North Ocean Boulevard in Palm Beach. It sits on 0.81 acres and encompasses 6,092 square feet. The asset was sold for $31,000,000, translating to a price per square foot of $5,089.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $31,000,000
• Address: 1160 North Ocean Boulevard
• Market: Palm Beach
• Square Footage: 6,092
• Price Per Square Foot: $5,089
• Buyer: Erik Moody - 1160 NOB LLC
• Seller: Paul L. Maddock Jr. & Cythlen C. Maddock
• Buyer's Representatives: Gary Pohrer - Douglas Elliman; Marley Goodman Overman - Illustrated Properties Real Estate
• Seller's Representative: Jonathan Moss - Sotheby's Intl. Realty, Inc.

In this transaction, the buyer, Erik Moody, is associated with Silver Lake, and it is anticipated that 1160 NOB LLC will demolish the existing structure on the property. The sellers, Paul and Cythlen Maddock, engaged Jonathan Moss as their representative throughout the deal.