Updated May 12, 2025
Anthony Berritto Purchases Waterfront Home From Michael J. Garnick In Highland Beach For $14.9M
4320 Intracoastal Drive
$14,900,000
Building Size
—
Asset Type
Single Family
Closing
Apr 14, 2025
About this deal
AI
A single-family waterfront home located at 4320 Intracoastal Drive in Highland Beach is involved in the transaction. The asset encompasses 0.3 acres and features 107 feet of Intracoastal frontage. The sale price of the property is $14,900,000.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $14,900,000
- Address: 4320 Intracoastal Drive
- Market: Highland Beach
- Seller: Michael J. Garnick - Garnick and Associates
- Buyer: Anthony Berritto
- Initial Purchase Price by Seller: $2,900,000
- Year of Initial Purchase: 2021
The deal represents an off-market transaction from Philadelphia attorney Michael J. Garnick to Anthony Berritto. Garnick is noted for investing in the property initially before constructing the spec home now sold.
On the Map
$14,900,000
Single Family
View full map
Players
Highland Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
Loading comparables…
Deal FAQ
Visit Anthony Berritto to view all their deals.
Browse Highland Beach single family sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93