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Dr. George Snelling Purchases Single Family Home From Fakhry And Hilda Abdelnour For $13M

Property Image
SOLD
$13,000,000
Stephen Hall
James (Jim) Cosel
Jose Dennis Gallo

Florida

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Single Family4,246 SF
Sold 12/16/2024
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Property Image
SOLD

Dr. George Snelling Purchases Single Family Home From Fakhry And Hilda Abdelnour For $13M

221 Atlantic Avenue

See Similar Deals
Single Family4,246 SF
Sold 12/16/2024
Stephen Hall
James (Jim) Cosel
Jose Dennis Gallo
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,061
Total Square Footage:4,246 SF
Transaction Type:Sale

The transaction involved a single-family home located at 221 Atlantic Avenue in Palm Beach, sold for $13 million. The property encompasses a total area of 4,246 square feet, translating to a price per square foot of $3,062. The home features four bedrooms and is designed in a British Colonial style.

Summary of transaction details:

Fakhry and Hilda Abdelnour sold their home following travel disruptions due to the COVID-19 pandemic. The buyer, Dr. George Snelling, intends to undertake minor renovations, specifically converting a library back into a dining room.

Players

Stephen Hall
Compass
Stephen Hall
8 deals$89.1M volume
BROKER
James (Jim) Cosel
Sotheby's International Realty
James Cosel
1 deal$13M volume(561) 309-6272
BROKER
Jose Dennis Gallo
Sotheby's International Realty
Jose Dennis Gallo
1 deal$13M volume(561) 371-7336
BROKER

Details

SOLD
IMAGE: Jose Dennis Gallo, Stephen Hall & James Cosel DATE: 12/16/2024 ADDRESS: 221 Atlantic Avenue MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Dr. George Snelling SELLER: Fakhry & Hilda Abdelnour SELLER'S REP: James Cosel & Jose Dennis Gallo - Sotheby's International Realty (@SothebysRealty) BROKER: Stephen Hall (@Sdhjr1) - Compass (@Compass) SALE PRICE: $13,000,000 SF: 4,246 ~ PPSF: $3,062 NOTE: Fakhry and Hilda Abdelnour sold their four-bedroom British Colonial-style home at 221 Atlantic Ave. for $13 million after travel disruptions from the COVID-19 pandemic. The buyer, Dr. George Snelling, plans to make minor renovations, including converting a library back to a dining room.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
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