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Steve Wynn Of Wynn Resorts Purchases West Palm Beach Waterfront Property From Christopher K. Swindle For $12.9M

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SOLD
$12,900,000

Florida

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Single Family2,005 SF
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Steve Wynn Of Wynn Resorts Purchases West Palm Beach Waterfront Property From Christopher K. Swindle For $12.9M

2916 Washington Road

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Single Family2,005 SF
Sold
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$6433
Total Square Footage:2005 SF
Transaction Type:Sale

The property is a waterfront teardown located at 2916 Washington Road in West Palm Beach, sold for $12.9 million. It covers an area of 2,005 square feet, situated on 0.51 acres. The asset, built in 1956, represents a significant real estate investment in the region.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $12,900,000
  • Square Footage: 2,005
  • Price Per Square Foot: $6,434
  • Buyer: Steve Wynn - Wynn Resorts
  • Seller: Christopher K. Swindle
  • Broker: Jessica Julian - Douglas Elliman
  • Closing Date: December 13, 2024

Steve Wynn, known for his role as a billionaire casino mogul, has added this property to his portfolio, continuing his trend of high-profile real estate transactions in the area. The broker representing the seller, Christopher K. Swindle, is Jessica Julian from Douglas Elliman.

Players

Jessica Julian
Douglas Elliman
Jessica Julian
2 deals$112.9M volume(714) 305-6565
BROKER

Details

SOLD
IMAGE: Steve Wynn & Jessica Julian DATE: 12/13/2024 ADDRESS: 2916 Washington Road MARKET: West Palm Beach ASSET TYPE: Single Family ~ ACRES: 0.51 BUYER: Steve Wynn - Wynn Resorts SELLER: Christopher K. Swindle BROKER: Jessica Julian - Douglas Elliman (@DouglasElliman) SALE PRICE: $12,900,000 SF: 2,005 ~ PPSF: $6,434 NOTE: Billionaire casino mogul, Steve Wynn, purchased a waterfront teardown at 2916 Washington Road in West Palm Beach for $12.9M, continuing his pattern of high-profile real estate investments in the area. The 2,005-square-foot property, sold by Christopher K. Swindle, was built in 1956 and sits on half an acre, with the deal closing on Dec. 13.

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

$688,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,830.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,152.58
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