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2367 South Ocean Boulevard

Justin Gmelich Of Millennium Management Acquires Single Family Home In Highland Beach For $28.5M
SOLDSingle Family

Justin Gmelich Of Millennium Management Acquires Single Family Home In Highland Beach For $28.5M

2367 South Ocean Boulevard

$28,500,000

$2,294/SF

Building Size

12,421 SF

Asset Type

Single Family

Closing

Mar 14, 2025

AI

The asset involved in the transaction is a single-family home located at 2367 South Ocean Boulevard in Highland Beach. The property was sold for $28,500,000.00 and encompasses a total area of 12,421 square feet.

Summary of transaction details:

This transaction reflects the roles of key individuals within the real estate market, with Justin Gmelich representing the buyer and Aogán O hAoláin as the seller. The involvement of Jonathan Postma, as the buyer's representative, and Phillip and Candace Friis from The Corcoran Group representing the seller, highlights the collaboration among real estate professionals in facilitating the sale.

Players

Candace Friis

The Corcoran Group

Broker

$343.3M

vol

14 deals

Broker

Highland 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

0.56%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93