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220 Wells Road Trust Acquires Single Family Home In Palm Beach From William J. Diamond & Regine Traulsen For $16.175M
SOLD
$16,175,000
Florida
See Similar DealsSingle Family5,788 SF
Sold 04/01/2025
SOLD
220 Wells Road Trust Acquires Single Family Home In Palm Beach From William J. Diamond & Regine Traulsen For $16.175M
220 Wells Road
See Similar DealsSingle Family5,788 SF
Sold 04/01/2025
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$2,794
Total Square Footage:5,788 SF
Transaction Type:Sale
A single-family home located at 220 Wells Road in Palm Beach has been sold for $16,175,000. The property encompasses 5,788 square feet and was sold at a price per square foot of $2,795.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $16,175,000
- Buyer: 220 Wells Road Trust
- Seller: William “Bill” J. Diamond & Regine Traulsen
- Broker: Lawrence Moens - Lawrence A. Moens Associates, Inc
- Date of Sale: 04/01/2025
The transaction involved fashion designer Regine Traulsen and former Palm Beach Town Councilman Bill Diamond as sellers. The buyer, 220 Wells Road Trust, was represented by attorney Guy Rabideau. Broker Lawrence Moens represented both sides of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$862,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,466.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,677.75
Annual Debt Service$920,133.03
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