Updated Oct 2, 2026
SOLDSingle Family
Erik Moody's 1160 NOB LLC Acquires Palm Beach Oceanfront Home For $31 Million
1160 North Ocean Boulevard
$31,000,000
$5,088/SF
Building Size
6,092 SF
Asset Type
Single Family
Closing
Mar 25, 2025
About this deal
AI
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.
On the Map
$31,000,000
$5,088/SF
Single Family
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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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93