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Darlene Luccio Jordan And Jerry Jordan Jr. Purchase Palm Beach Home From Ann And Lee Fensterstock For $15.15M

Property Image
SOLD
$15,153,700
Paulette Koch
Dana Koch
+ 1

Florida

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Single Family4,842 SF
Sold 04/29/2025
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Property Image
SOLD

Darlene Luccio Jordan And Jerry Jordan Jr. Purchase Palm Beach Home From Ann And Lee Fensterstock For $15.15M

259 Merrian Road

See Similar Deals
Single Family4,842 SF
Sold 04/29/2025
Paulette Koch
Dana Koch
+ 1
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,129
Total Square Footage:4,842 SF
Transaction Type:Sale

This transaction involves a single-family home located at 259 Merrian Road in Palm Beach, encompassing an area of 0.38 acres. The sale price for the property was $15,153,700, with a total square footage of 4,842. The price per square foot is recorded at $3,130.

Summary of transaction details:

Jerry and Darlene Luccio Jordan are noted as the buyers, while Ann and Lee Fensterstock, the sellers, are identified as a spec developer. This transaction highlights the involvement of The Corcoran Group, represented by Dana Koch, Paulette Koch, and Suzanne Frisbie in facilitating the sale.

Players

Paulette Koch
22 deals$545.2M volume
BROKER

Dana Koch
The Corcoran Group
42 deals$1B volume
BROKER

Suzanne Frisbie
The Corcoran Group
47 deals$1.4B volume
BROKER


J.P. Morgan Chase
LENDER

Details

SOLD
IMAGE: Jerry Jordan Jr., Suzanne Frisbie, Dana Koch & Paulette Koch DATE: 04/29/2025 ADDRESS: 259 Merrian Road MARKET: Palm Beach ASSET TYPE: Single Family ~ ACRES: 0.38 BUYER: Darlene Luccio Jordan & Jerry Jordan Jr. SELLER: Ann & Lee Fensterstock BROKERS: Dana Koch (@KochTeam), Paulette Koch (@PauletteKochpb) & Suzanne Frisbie (@FrisbiePalmBeach) - The Corcoran Group (@TheCorcoranGroup) LENDER: J.P. Morgan Chase (@JPMorgan) SALE PRICE: $15,153,700 SF: 4,842 ~ PPSF: $3,130 NOTE: Jerry and Darlene Luccio Jordan paid $15.2M for a 5-bed, 6.5-bath home at 259 Merrain Road in Palm Beach, financing the deal with a $10M loan from J.P. Morgan Chase. The seller was spec developer Lee Fensterstock, who originally paid $4.7M in 2013.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$808,197.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,837.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,836.27
Annual Debt Service$862,035.23