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439 Seaspray Avenue

CWNPB LLC Purchases Single Family Home From Dr. George Snelling For $7,497,175 In Palm Beach
SOLDSingle Family

CWNPB LLC Purchases Single Family Home From Dr. George Snelling For $7,497,175 In Palm Beach

439 Seaspray Avenue

$7,497,175

$3,437/SF

Building Size

2,181 SF

Asset Type

Single Family

Closing

Mar 12, 2025

AI

The property involved in this sale is a fully renovated 1920s bungalow located at 439 Seaspray Avenue in Palm Beach. The asset is classified as a single-family home, encompassing a square footage of 2,181. The transaction was executed for a total price of $7,497,175, resulting in a price per square foot of $3,437.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $7,497,175
  • Address: 439 Seaspray Avenue
  • Market: Palm Beach
  • Buyer: CWNPB LLC
  • Seller: Dr. George Snelling
  • Brokers: Stephen Hall & Vincent Kessel - Compass
  • Square Footage: 2,181
  • Price Per Square Foot: $3,437

Stephen Hall and Vincent Kessel, representing Compass, facilitated the transaction as brokers. The seller, Dr. George Snelling, completed this sale after acquiring the property for $3.95 million in 2021. The bungalow's restoration took two years, enhancing its historical charm while incorporating modern features such as four bathrooms and a redesigned interior layout.

Players

Stephen Hall

Compass

Broker

$89.1M

vol

8 deals

Broker

Palm Beach Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93