Robert S. Raynes Jr Acquires Single Family Property In Palm Beach For $41M
SOLD
$41,000,000
National
See Similar DealsSingle Family10,586 SF
Sold 12/01/2021
SOLD
Robert S. Raynes Jr Acquires Single Family Property In Palm Beach For $41M
Single Family10,586 SF
Sold 12/01/2021
Summary
Asset Type:Single Family
Price Per Square Foot:$3,873
Total Square Footage:10,586 SF
Transaction Type:Sale
A single-family property located in Palm Beach has been sold for a price of $41,000,000. The property spans approximately 0.75 acres and offers a total of 10,586 square feet of living space. The sale price translates to $3,873 per square foot.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $41,000,000
- Market: Palm Beach
- Acres: 0.75
Robert S. Raynes Jr. has acquired the property, while the seller is Jagbir Singh representing Sujani Enterprises. Christian Angle, from Christian Angle Real Estate, facilitated the transaction as the buyer's representative. Shelly Newman from William Raveis South Florida acted as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01
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