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South Flagler Drive Holdings LLC Purchases Two Properties From Gregory E. Georgas For $21M
SOLD
$21,000,000
Florida
See Similar DealsSingle Family
Sold 11/04/2025
SOLD
South Flagler Drive Holdings LLC Purchases Two Properties From Gregory E. Georgas For $21M
7425 South Flagler Drive & 7515 South Flagler Drive
See Similar DealsSingle Family
Sold 11/04/2025
Summary
FLORIDA
Asset Type:Single Family
Transaction Type:Sale
Two adjacent properties located at 7425 and 7515 South Flagler Drive in West Palm Beach were sold for a combined price of $21 million. The total acreage for the properties is 1.06 acres, classified as single-family assets.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $21,000,000
- Buyer: South Flagler Drive Holdings LLC
- Seller: Gregory E. Georgas - Flagler Hacienda II LLC
- Broker: Hilary Musser - Musser Homes
- Market: West Palm Beach
Hilary Musser of Musser Homes represented the sellers in this transaction. The buyer, South Flagler Drive Holdings LLC, intends to construct a new luxury home on the site, which offers views of the Intracoastal Waterway.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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