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
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