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Four Z's LLC Purchases Oceanfront Mansion From Andrew Farkas For $51.42M In Palm Beach

Property Image
SOLD
$51,420,000
Paulette Koch
Dana Koch
LM
+ 1

Florida

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Single Family9,949 SF
Sold 04/24/2025
the dealplayerscompscontact
Property Image
SOLD

Four Z's LLC Purchases Oceanfront Mansion From Andrew Farkas For $51.42M In Palm Beach

516 South Ocean Boulevard

See Similar Deals
Single Family9,949 SF
Sold 04/24/2025
Paulette Koch
Dana Koch
LM
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$5,168
Total Square Footage:9,949 SF
Transaction Type:Sale

A single-family oceanfront mansion located at 516 South Ocean Boulevard in Palm Beach was sold for $51,420,000. The property, which spans 9,949 square feet, translates to a price per square foot of $5,168.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $51,420,000
  • Address: 516 South Ocean Boulevard
  • Market: Palm Beach
  • Square Footage: 9,949
  • Price per Square Foot: $5,168
  • Buyer: Four Z’s LLC
  • Seller: Andrew Farkas - Island Capital Group
  • Buyer's Representative: Lawrence Moens - Lawrence A. Moens Associates
  • Seller's Representatives: Dana Koch & Paulette Koch - The Corcoran Group

Andrew Farkas completed the sale of his renovated mansion to Four Z’s LLC, a buyer based in Colorado. Dana and Paulette Koch from The Corcoran Group represented the seller, while Lawrence Moens represented the buyer in this notable transaction within the season.

Players

LM
Lawrence Moens
64 deals$2.4B volume(561) 655-5510
BROKER
Paulette Koch
The Corcoran Group
Paulette Koch
22 deals$545.2M volume
BROKER
Dana Koch
The Corcoran Group
Dana Koch
42 deals$1B volume
BROKER
AF
Andrew Farkas
5 deals$255.6M volume
SELLER

Details

SOLD
IMAGE: Andrew Farkas, Dana Koch & Paulette Koch DATE: 04/24/2025 ADDRESS: 516 South Ocean Boulevard MARKET: Palm Beach ASSET TYPE: Single Family BUYER: Four Z’s LLC SELLER: Andrew Farkas - Island Capital Group BUYER'S REP: Lawrence Moens - Lawrence A. Moens Associates SELLER'S REP: Dana Koch (@KochTeam) & Paulette Koch (@PauletteKochpb) - The Corcoran Group (@TheCorcoranGroup) SALE PRICE: $51,420,000 SF: 9,949 ~ PPSF: $5,168 NOTE: Andrew Farkas sold his renovated 9,950 SF oceanfront mansion at 516 S. Ocean Blvd. in Palm Beach for $51.4M to Four Z’s LLC, a Colorado-based buyer. Dana and Paulette Koch of Corcoran listed the property; Lawrence Moens repped the buyer in one of the season’s top sales.

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Deal Type
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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)-$182,684.39
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