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Delray Beach, FL, USA

855 South Ocean Boulevard LLC Acquires Charles H. Johnson's Delray Beach Single Family Property For $34M
SOLDSingle Family

855 South Ocean Boulevard LLC Acquires Charles H. Johnson's Delray Beach Single Family Property For $34M

Delray Beach, FL, USA

$34,000,000

$1,700/SF

Building Size

20,000 SF

Asset Type

Single Family

Closing

Oct 22, 2021

AI

A single-family property located in Delray Beach has recently been sold for a staggering $34,000,000. The transaction took place on October 22, 2021, and involved an impressive piece of real estate spanning 1.3 acres. The property boasts a spacious 20,000 square feet of living space, making it an enviable residence in the area. The buyer, 855 South Ocean Boulevard LLC, acquired the property from the seller, Charles H. Johnson. This noteworthy sale was facilitated by Nick Malinosky of Douglas Elliman, who represented the seller's interests in the deal.

Summary of Transaction Details

  • Property Type: Single Family
  • Transaction Amount: $34,000,000
  • Market: Delray Beach
  • Acres: 1.3
  • Square Feet: 20,000
  • Buyer: 855 South Ocean Boulevard LLC
  • Seller: Charles H. Johnson
  • Broker: Nick Malinosky - Douglas Elliman

This notable transaction highlights the impressive price and size of the property, attracting the attention of 855 South Ocean Boulevard LLC. The deal was successfully facilitated by Nick Malinosky of Douglas Elliman, who represented Charles H. Johnson's interests as the seller's broker. The acquisition of this magnificent residence demonstrates the strong demand for luxury real estate in Delray Beach.

Players

Nicholas Malinosky

Douglas Elliman

Broker

$526.4M

vol

21 deals

Broker

Delray Beach Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93