David A. Frecka Of Next Generation Film Acquires Ocean-to-Lake Estate In Lantana For $49.12M
1400 South Ocean Boulevard
$49,123,100
$3,037/SF
Building Size
16,174 SF
Asset Type
Single Family
Closing
Feb 7, 2025
AI
The property asset involved in this transaction is a single-family home located at 1400 South Ocean Boulevard in Lantana, encompassing 1.84 acres with a total square footage of 16,174. It was sold for $49,123,100, resulting in a price per square foot of $3,037.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $49,123,100
- Address: 1400 South Ocean Boulevard
- Market: Lantana
- Acres: 1.84
- Square Footage: 16,174
- Price per Square Foot: $3,037
- Buyer: David A. Frecka - Next Generation Film
- Seller: Padmaja & Rama Raju Mantena
- Buyer's Representative: Catherine McGlennon - Engel & Völkers
- Seller's Representative: Mark Griffin - The Bear’s Club Sotheby's International Realty
David A. Frecka, the CEO of a plastic packaging company, acquired the property from sellers Rama Raju and Padmaja Mantena. The transaction was facilitated with representation from Catherine McGlennon for the buyer and Mark Griffin for the sellers.
Players
Lantana 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93