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Michelle & Kevin Douglas Sell Oceanfront Estate In Palm Beach For $43.9 Million
SOLD
$43,900,000
Florida
See Similar DealsSingle Family6,100 SF
Sold
SOLD
Michelle & Kevin Douglas Sell Oceanfront Estate In Palm Beach For $43.9 Million
870 South Ocean Boulevard
See Similar DealsSingle Family6,100 SF
Sold
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$7196
Total Square Footage:6100 SF
Transaction Type:Sale
The property located at 870 South Ocean Boulevard in Palm Beach is an oceanfront estate comprising 6,100 square feet on a 0.4-acre lot. It entered under contract with a listed price of $43,900,000.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $43,900,000
- Address: 870 South Ocean Boulevard
- Market: Palm Beach
- Seller: Michelle & Kevin Douglas
- Broker: Christian Angle - Christian Angle Real Estate
- Price per Square Foot: $7,197
The estate went pending after hitting the market in November, initially purchased by Kevin Douglas and his wife for $28.5 million in 2021. The broker representing this transaction is Christian Angle from Christian Angle Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,341,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$155,967.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,108.40
Annual Debt Service$2,497,300.76
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