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Vernon Leopard Of Accordion Purchases Renovated Home From Betsy Sorrel For $15.9M In Palm Beach
SOLD
$15,900,000
Florida
See Similar DealsSingle Family4,590 SF
Sold 01/13/2025
SOLD
Vernon Leopard Of Accordion Purchases Renovated Home From Betsy Sorrel For $15.9M In Palm Beach
245 Barton Avenue
See Similar DealsSingle Family4,590 SF
Sold 01/13/2025
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,464
Total Square Footage:4,590 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$847,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,489.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,374.11
Annual Debt Service$904,489.34
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