Updated May 12, 2025
Kassel Properties LLC Purchases Townhome At 450 Brazilian Avenue Palm Beach For $12.125M
450 Brazilian Avenue
$12,125,000
$2,742/SF
Building Size
4,421 SF
Asset Type
Single Family
Closing
May 1, 2025
About this deal
AI
A luxury townhouse at 450 Brazilian Avenue in Palm Beach has been sold for $12.125 million. The property encompasses 4,421 square feet of living space and includes its own pool. It was previously owned by Margaret M. McConnell Dean, the widow of J. Simpson Dean Jr. from the du Pont family.
Summary of transation details:
- Property Type: Townhome
- Transaction Amount: $12,125,000
- Address: 450 Brazilian Avenue
- Market: Palm Beach
- Square Footage: 4,421
- Price Per Square Foot: $2,743
- Buyer: Kassel Properties LLC
- Seller: Margaret M. McConnell Dean
- Broker Representatives: John Pickett & KC Pickett - Brown Harris Stevens
Kassel Properties LLC, a Missouri-based company, acquired the townhouse and already owned the adjacent unit. The transaction involved prominent brokers John Pickett and KC Pickett from Brown Harris Stevens, representing the parties involved in the deal.
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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93