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233 Miraflores Drive

PB 130 Limited Partnership Acquires Renovated Palm Beach Property For $13.2M
SOLDSingle Family

PB 130 Limited Partnership Acquires Renovated Palm Beach Property For $13.2M

233 Miraflores Drive

$13,200,000

$3,567/SF

Building Size

3,700 SF

Asset Type

Single Family

Closing

Apr 13, 2023

AI

A renovated house in Palm Beach has been sold for $13.2 million. Located at 233 Miraflores Drive, the property features four bedrooms, a pool, and a two-car garage. This single-family home sits on approximately 0.3 acres of land, offering a spacious and luxurious living space. The extensive renovation undertaken prior to the sale ensures that the house is in pristine condition.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $13,200,000
  • Address: 233 Miraflores Drive
  • Market: Palm Beach
  • Asset Type: Single Family
  • Acres: 0.3

The buyer, PB 130 Limited Partnership, a Ontario-based entity managed by Keith L. Ray, recognized the value and potential of this property and made the purchase. Representing the buyer in this transaction was Spencer Schlager from Douglas Elliman. On the other hand, Dana Koch and Paulette Koch from The Corcoran Group represented the seller, Lee Fensterstock. This deal shows the continuing popularity of Palm Beach as a thriving real estate market.

Players

Dana Koch

The Corcoran Group

Broker

$1B

vol

42 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

1.20%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93