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1450 North Lake Way Trust Acquires Palm Beach Single Family For $37.8M

Property Image
SOLD
$37,800,000
Pamela Miller
Lisa Cregan
Bradford Miller

Florida

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Single Family13,449 SF
Sold 10/04/2021
the dealplayerscompscontact
Property Image
SOLD

1450 North Lake Way Trust Acquires Palm Beach Single Family For $37.8M

Palm Beach, FL, USA

See Similar Deals
Single Family13,449 SF
Sold 10/04/2021
Pamela Miller
Lisa Cregan
Bradford Miller
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$2,810
Total Square Footage:13,449 SF
Transaction Type:Sale

The property involved in this transaction is a single-family home located in Palm Beach. The property covers an area of 0.7 acres. The sale took place on October 4, 2021.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $37,800,000
  • Square Footage: 13,449
  • Price Per Square Foot: $2,811
  • Market: Palm Beach

The buyer in this transaction is the 1450 North Lake Way Trust, and the seller is Susan Markin. The buyer was represented by Lisa Cregan from Sotheby's International Realty, while the seller was represented by Bradford Miller and Pamela Miller from Bradford P Miller Real Estate.

Players

Lisa Cregan
Sotheby's International Realty
Lisa Cregan
8 deals$146.8M volume
BROKER
Bradford Miller
Bradford Miller
1 deal$37.8M volume
BROKER
Pamela Miller
Pamela Miller
1 deal$37.8M volume
BROKER

Details

SOLD
IMAGE: Lisa Cregan, Susan Markin, Bradford Miller & Pamela Miller DATE: 10/04/2021 MARKET: Palm Beach ASSET TYPE: Single Family ~ ACRES: 0.7 BUYER: 1450 North Lake Way Trust SELLER: Susan Markin BUYER'S REP: Lisa Cregan - Sotheby’s International Realty SELLER'S REP: Bradford Miller & Pamela Miller - Bradford P Miller Real Estate SALE PRICE: $37,800,000 SF: 13,449 ~ PPSF: $2,811

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

$2,016,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$134,295.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$179,191.28
Annual Debt Service$2,150,295.42