Vernon Leopard Of Accordion Purchases Renovated Home From Betsy Sorrel For $15.9M In Palm Beach
245 Barton Avenue
$15,900,000
$3,464/SF
Building Size
4,590 SF
Asset Type
Single Family
Closing
Jan 13, 2025
AI
The property is a single-family home located at 245 Barton Avenue in Palm Beach, encompassing 0.2 acres. The residence has a total square footage of 4,590 and was sold for $15,900,000, translating to a price per square foot of $3,464.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $15,900,000
- Square Footage: 4,590
- Price Per Square Foot: $3,464
- Address: 245 Barton Avenue
- Market: Palm Beach
- Buyer: Vernon Nicholas Leopard
- Seller: Betsy Sorrel
- Buyer's Representative: Christian Angle - Christian Angle Real Estate
- Seller's Representative: John Cregan - Sotheby's International Realty
Betsy Sorrel, represented by John Cregan of Sotheby's International Realty, successfully sold the renovated home to an LLC managed by Accordion CEO Nick Leopard. Christian Angle from Christian Angle Real Estate represented the buyer in this transaction.
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
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93