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323 Chilean LLC Purchases Single Family Home From Richard C. True For $19.5M In Palm Beach

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SOLD
$19,500,000

Florida

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Single Family5,200 SF
Sold 12/19/2024
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Property Image
SOLD

323 Chilean LLC Purchases Single Family Home From Richard C. True For $19.5M In Palm Beach

323 Chilian Avenue

See Similar Deals
Single Family5,200 SF
Sold 12/19/2024
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,750
Total Square Footage:5,200 SF
Transaction Type:Sale

The property asset involved in this transaction is a single-family home located at 323 Chilian Avenue in Palm Beach. The sale price was $19,500,000, with a total square footage of 5,200 and a price per square foot of $3,750.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $19,500,000
  • Address: 323 Chilian Avenue
  • Market: Palm Beach
  • Buyer: 323 Chilean LLC
  • Seller: Richard C. True
  • Buyer's Representative: John Cregan & Lisa Cregan - Sotheby's International Realty
  • Seller's Representative: Richard C. True - Corcoran Group
  • Square Footage: 5,200
  • Price per Square Foot: $3,750

In this transaction, Richard C. True sold the extensively renovated 1920s landmarked house and acted as his own agent under the Corcoran Group. The buyer, a Delaware-based LLC tied to Alley, Maass, Rogers & Lindsay law firm, was represented by Lisa and John Cregan of Sotheby’s International Realty.

Players

Lisa Cregan
8 deals$146.8M volume
BROKER

John Cregan
Sotheby's International Realty
8 deals$124.9M volume
BROKER

Details

SOLD
IMAGE: Lisa Cregan & John Cregan DATE: 12/19/2024 ADDRESS: 323 Chilian Avenue MARKET: Palm Beach ASSET TYPE: Single Family BUYER: 323 Chilean LLC SELLER: Richard C. True BUYER'S REP: John Cregan & Lisa Cregan (@Lisa_and_John_palmbeach) - Sotheby's International Realty (@SothebysRealty) SELLER'S REP: Richard C. True - Corcoran Group (@TheCorcoranGroup) SALE PRICE: $19,500,000 SF: 5,200 ~ PPSF: $3,750 NOTE: Richard C. True sold the extensively renovated 1920s landmarked house at 323 Chilean Ave. in Palm Beach for $19.5M, acting as his own agent under Corcoran Group. The buyer, represented by Lisa and John Cregan of Sotheby’s International Realty, is a Delaware-based LLC tied to Alley, Maass, Rogers & Lindsay law firm.

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

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38