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250 Palmo Way

Robert Steven Crespi Of Maplelane Capital Acquires Palm Beach Single Family For $25M
SOLDSingle Family

Robert Steven Crespi Of Maplelane Capital Acquires Palm Beach Single Family For $25M

250 Palmo Way

$25,000,000

$2,796/SF

Building Size

8,940 SF

Asset Type

Single Family

Closing

May 29, 2024

AI

A Single Family property located at 250 Palmo Way in Palm Beach was sold for $25,000,000. The property spans 0.64 acres and features an 8,940 square foot main house, a one-bedroom guesthouse, and a three-car garage. The transaction took place on 05/29/2024 with the buyer identified as Robert Steven Crespi and the seller as Lisa Hearst Hagerman.

Summary of transation details:

  • Property Type: Single Family
  • Transaction Amount: $25,000,000
  • Address: 250 Palmo Way
  • Market: Palm Beach
  • SF: 8,940
  • ACRES: 0.64
  • Buyer: Robert Steven Crespi - Maplelane Capital
  • Seller: Lisa Hearst Hagerman
  • Buyer's Rep: Alexandra Solimine - Engel & Völkers
  • Seller's Rep: Marley Goodman Overman - Illustrated Properties
  • PPSF: $2,796

The buyer, Robert Steven Crespi, acting as trustee of his revocable trust, acquired the property which is situated on a six-tenths of an acre lot about a mile south of the northern tip of the island in Palm Beach. The seller, Lisa Hearst Hagerman, completed the off-market deal with the assistance of their respective representatives, Alexandra Solimine and Marley Goodman Overman.

Players

Marley Goodman Overman

Illustrated Properties Real Estate

Broker

$227.5M

vol

9 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

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93