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
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