Jeffrey S. Hoffman Sells Palm Beach Home At 231 Wells Road For $19M With Buyer’s Rep Liza Pulitzer
231 Wells Road
$19,000,000
Building Size
—
Asset Type
Single Family
Closing
Mar 6, 2025
AI
A single-family home located at 231 Wells Road in Palm Beach was sold for $19,000,000. The property features five bedrooms and was previously purchased in 2018 by Jeffrey S. Hoffman, who achieved an $11.31 million gain from the sale.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $19,000,000
- Address: 231 Wells Road
- Market: Palm Beach
- Seller: Jeffrey S. Hoffman
- Buyer's Representative: Liza Pulitzer - Brown Harris Stevens
- Seller's Representative: Lawrence Moens - Lawrence A. Moens Associates
- Buyer linked to: Two family trusts
The negotiation involved Lawrence Moens listing the property, with Liza Pulitzer and Whitney McGurk representing the buyer in this transaction. Both brokers played a key role in facilitating this sale, which reflects a notable transaction within the Palm Beach market.
Players
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93