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Crista Ryan & Margit Brandt Close $31M Single Family Sale In Palm Beach

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SOLD
$31,000,000

Florida

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Single Family7,852 SF
Sold 07/09/2024
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Property Image
SOLD

Crista Ryan & Margit Brandt Close $31M Single Family Sale In Palm Beach

584 Island Drive

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Single Family7,852 SF
Sold 07/09/2024
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,948
Total Square Footage:7,852 SF
Transaction Type:Sale

Located in Palm Beach at 584 Island Drive, the single-family property was recently sold for $31,000,000. Spanning 7,852 square feet, the sale price per square foot was $3,948.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $31,000,000
  • Address: 584 Island Drive
  • Market: Palm Beach

The buyer's representative for this transaction was Crista Ryan from Tina Fanjul Associates, Inc. On the other side, Margit Brandt from Premier Estate Properties represented the seller.

Players

6 deals$102M volume
BROKER

Details

SOLD
IMAGE: Crista Ryan & Margit Brandt DATE: 07/09/2024 ADDRESS: 584 Island Drive MARKET: Palm Beach ASSET TYPE: Single Family BUYER'S REP: Crista Ryan - Tina Fanjul Associates, Inc. (@TinaFanjulAssoc) SELLER'S REP: Margit Brandt (@MargitBrandtpalmbeach) - Premier Estate Properties (@PremierEstateProperties) SALE PRICE: $31,000,000 SF: 7,852 ~ PPSF: $3,948

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,653,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79