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Andrew Midler Purchases Waterfront Home From Philip S. Cambo In Palm Beach For $18M

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SOLD
$18,000,000

Florida

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Single Family6,243 SF
Sold 06/03/2026
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SOLD

Andrew Midler Purchases Waterfront Home From Philip S. Cambo In Palm Beach For $18M

1191 North Ocean Way

See Similar Deals
Single Family6,243 SF
Sold 06/03/2026
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$2,883
Total Square Footage:6,243 SF
Transaction Type:Sale

The single-family asset located at 1191 North Ocean Way in Palm Beach, FL, has a sale price of $18,000,000. The residence offers 6,243 square feet of space and was developed by Philip S. Cambo, who completed the custom-built home in 2013. The property features a four-bedroom layout alongside enhanced outdoor amenities and a pool area.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $18,000,000
  • Address: 1191 North Ocean Way
  • Market: Palm Beach, FL
  • Square Footage: 6,243
  • Price Per Square Foot: $2,883
  • Buyer: Andrew Midler
  • Seller: Philip S. Cambo - Northern Tree Service
  • Buyer's Representative: Gary Pohrer - Serhant
  • Seller's Representative: Chris Deitz - Compass

This transaction marks a significant exit for developer Philip S. Cambo, who previously acquired the site for $1.125 million in 2011. The buyer, Andrew Midler, engaged with the sale through the representation of Gary Pohrer, while Chris Deitz represented the seller. The deal was conducted off-market to a trust-linked buyer.

Players

Gary Pohrer
42 deals$1.1B volume(561) 262-0856
BROKER

Christopher "Chris" Deitz
Compass
7 deals$163.1M volume
BROKER

Details

SOLD
IMAGE: Gary Pohrer & Chris Deitz DATE: 06/03/2026 ADDRESS: 1191 North Ocean Way MARKET: Palm Beach, FL ASSET TYPE: Single Family BUYER: Andrew Midler SELLER: Philip S. Cambo - Northern Tree Service BUYER'S REP: Gary Pohrer (@GaryPohrer) - Serhant (@Serhant) SELLER'S REP: Chris Deitz (@ChriswDeitz) - Compass (@Compass) SALE PRICE: $18,000,000 SF: 6,243 - PPSF: $2,883 NOTE: 1191 N. Ocean Way sold for $18 million in an off-market deal by developer Philip S. Cambo, marking a major exit on the custom-built Palm Beach home he completed in 2013.The 6,243-square-foot waterfront residence traded to a trust-linked buyer after Cambo originally acquired the site for $1.125 million in 2011 and developed a four-bedroom estate with upgraded outdoor amenities and pool area.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$63,950.20
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