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Thomas J. Swann III Acquires Casa Giravento In Palm Beach For $43.25M With Patricia Mahaney
SOLD
Florida
See Similar DealsSingle Family12,853 SF
Sold 06/04/2026
SOLD
Thomas J. Swann III Acquires Casa Giravento In Palm Beach For $43.25M With Patricia Mahaney
115 Via La Selva
See Similar DealsSingle Family12,853 SF
Sold 06/04/2026
Summary
FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,365
Total Square Footage:12,853 SF
Transaction Type:Sale
The property asset involved in this transaction is a landmarked 1927 Mediterranean Revival estate known as Casa Giravento. It is located at 115 Via La Selva in Palm Beach, FL, and encompasses 12,853 square feet. The estate was sold for $43.25 million, reflecting a price per square foot of $3,365.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $43,250,000
- Address: 115 Via La Selva
- Market: Palm Beach, FL
- Square Footage: 12,853
- Price per Square Foot: $3,365
- Buyer: Thomas J. Swann III
- Seller: Philip B. Korsant & Catherine Korsant
- Buyer’s Representative: Patricia Mahaney - Sotheby's International Realty
- Seller's Representatives: Suzanne Frisbie, Paulette Koch & Dana Koch - The Corcoran Group
The transaction marks a significant gain for the sellers, Philip B. Korsant and Catherine Korsant, who purchased the estate in 2017 for approximately $14 million. The property was previously listed for $49.5 million before the sale was finalized.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,306,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$153,658.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$205,027.07
Annual Debt Service$2,460,324.78
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