Updated Dec 18, 2024
Steve Wynn Of Wynn Resorts Purchases West Palm Beach Waterfront Property From Christopher K. Swindle For $12.9M
2916 Washington Road
$12,900,000
$6,433/SF
Building Size
2,005 SF
Asset Type
Single Family
Closing
Dec 13, 2024
About this deal
AI
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.
On the Map
$12,900,000
$6,433/SF
Single Family
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Property Record
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Players
West Palm Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $6.4K per square foot on a published $12.9M for 2,005 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93