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449 Australian Avenue

Helen M. Ziegler Sells Palm Beach Single Family Home For $15.9M
SOLDSingle Family

Helen M. Ziegler Sells Palm Beach Single Family Home For $15.9M

449 Australian Avenue

$15,900,000

$4,420/SF

Building Size

3,597 SF

Asset Type

Single Family

Closing

Mar 22, 2024

AI

The property at 449 Australian Avenue in Palm Beach, a Single Family home, was sold for $15,900,000. The residence spans 3,597 square feet with a price per square foot of $4,420. The seller, Helen M. Ziegler, heiress to a century-old fortune, handed over the property to Southern Mark LLC. The buyer, represented by attorney D. Clarke Sugar, hails from California. The transaction was facilitated by Shelly Newman of The Corcoran Group.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $15,900,000
  • Address: 449 Australian Avenue
  • Market: Palm Beach
  • Square Footage: 3,597
  • Buyer: Helen M. Ziegler
  • Buyer Representative: Shelly Newman - The Corcoran Group

The buyer, Helen M. Ziegler, decided to part ways with her Palm Beach property, engaging in a deal with Southern Mark LLC. Represented by attorney D. Clarke Sugar, the buyer was based in California. Shelly Newman of The Corcoran Group served as the intermediary for this transaction.

Players

Shelly Newman

The Corcoran Group

Broker

$257.8M

vol

10 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

1.00%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93