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

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SOLD
$15,900,000

Florida

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Single Family3,597 SF
Sold 03/22/2024
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Property Image
SOLD

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

449 Australian Avenue

See Similar Deals
Single Family3,597 SF
Sold 03/22/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$4,420
Total Square Footage:3,597 SF
Transaction Type:Sale

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
Shelly Newman
10 deals$257.8M volume(612) 860-4599
BROKER

Details

SOLD
IMAGE: Shelly Newman DATE: 03/22/2024 ADDRESS: 449 Australian Avenue MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Helen M. Ziegler BROKER: Shelly Newman - The Corcoran Group (@TheCorcoranGroup) SALE PRICE: $15,900,000 SF: 3,597 ~ PPSF: $4,420 NOTE: Helen M. Ziegler, heiress to a century-old fortune, sold her Palm Beach house for $15.9 million to Southern Mark LLC, represented by attorney D. Clarke Sugar. Shelly Newman of the Corcoran Group handled the deal, with the buyer from California.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,489.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,374.11
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