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WPB Investments 1 Buys Palm Beach Single Family Home For $51.25M

Property Image
SOLD
$51,250,000
James (Jim) McCann
Phatavanh Olsen
Derek Olsen

Florida

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Single Family5,819 SF
Sold 05/08/2024
the dealplayerscompscontact
Property Image
SOLD

WPB Investments 1 Buys Palm Beach Single Family Home For $51.25M

200 South Ocean Boulevard

See Similar Deals
Single Family5,819 SF
Sold 05/08/2024
James (Jim) McCann
Phatavanh Olsen
Derek Olsen
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$8,807
Total Square Footage:5,819 SF
Transaction Type:Sale

The single-family property located at 200 South Ocean Boulevard in Palm Beach, spanning 0.9 acres, was sold for $51,250,000. Former CEO and president of Academy Sports & Outdoors, David Gochman, along with Becky Gochman, were the sellers of this 5,819-square-foot residence. The property was initially listed for $59 million back in February.

Summary of transation details:

The purchasing entity behind this transaction was WPB Investments 1, managed by attorney Bradley McPherson, acquiring the luxurious property from the Gochmans. Handling the deal on behalf of the buyer were Derek Olsen and Phatavanh Olsen from Douglas Elliman, while James McCann from Premier Estate Properties represented Becky and David Gochman in the sale.

Players

James (Jim) McCann
Premier Estate Properties
James McCann
22 deals$541.1M volume(561) 307-1525
BROKER
Phatavanh Olsen
Douglas Elliman
Phatavanh Olsen
1 deal$51.3M volume(917) 463-7299
BROKER
Derek Olsen
Douglas Elliman
Derek Olsen
1 deal$51.3M volume(561) 797-6440
BROKER

Details

SOLD
IMAGE: James McCann, Derek Olsen, David Gochman, Phatavanh Olsen & Becky Gochman DATE: 05/08/2024 ADDRESS: 200 South Ocean Boulevard MARKET: Palm Beach ASSET TYPE: Single Family ~ ACRES: 0.9 BUYER: WPB Investments 1 SELLER: Becky Gochman & David Gochman BUYER'S REP: Derek Olsen (@TheOlsenTeam) & Phatavanh Olsen (@TheOlsenteamsellsrealestate) - Douglas Elliman (@DouglasElliman) SELLER'S REP: James McCann (@JimMcCannGroup) - Premier Estate Properties (@PremierEstateProperties) SALE PRICE: $51,250,000 SF: 5,819 ~ PPSF: $8,807 NOTE: David Gochman, former CEO & president of Texas-based Academy Sports & Outdoors, sold his Palm Beach home for $51,250,000 million. The 5,819-square-foot property, listed at $59 million in February, was purchased by a Delaware entity managed by attorney Bradley McPherson.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,733,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$182,080.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$242,951.15
Annual Debt Service$2,915,413.76