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215 Seaspray Avenue

Col. Freeman Jones & Anne McCormack Jones Purchase Palm Beach Home For $10.4M
SOLDSingle Family

Col. Freeman Jones & Anne McCormack Jones Purchase Palm Beach Home For $10.4M

215 Seaspray Avenue

$10,400,000

$4,006/SF

Building Size

2,596 SF

Asset Type

Single Family

Closing

Mar 27, 2024

AI

A Mediterranean-style house on Seaspray Avenue in Palm Beach was sold for $10.4 million. The 2,596-square-foot property was purchased by retired Army Col. Freeman Jones and wife Anne Beverly McCormack Jones from Virginia.

Summary of transaction details:

The property on Seaspray Avenue underwent extensive renovations by Bijon Memar before being acquired by Col. Freeman Jones and Anne Beverly McCormack Jones. The landmark property is part of Memar's restoration projects in the area.

Players

Todd Peter

Sotheby's International Realty

Broker

$290.3M

vol

13 deals

Broker

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

1.53%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93