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11050 Turtle Beach Rd #201,...

Perry Barber III Acquires North Palm Beach Condo For $5.5M
SOLD

Perry Barber III Acquires North Palm Beach Condo For $5.5M

11050 Turtle Beach Rd #201, North Palm Beach, Fl 33408, Usa

$5,500,000

$183/SF

Building Size

30,000 SF

Asset Type

Closing

Aug 18, 2020

AI

The recently closed property transaction involved a condo located at 11050 Turtle Beach Road in North Palm Beach. The condo spans 3,000 square feet and was sold at a price of $5,500,000, resulting in a price per square foot of $1,833.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $5,500,000
  • Address: 11050 Turtle Beach Road, North Palm Beach
  • Square Footage: 3,000
  • Price per Square Foot: $1,833

In this transaction, the sellers were Brian and Aileen Roberts, who are associated with Comcast. The buyers were Perry Barber III. The deal was facilitated by brokers James Kenny and Paul Kaneb from K2 Realty.

Players

James Kenny

K2 Realty

Broker

$216.8M

vol

13 deals

Broker

Brian Roberts

Comcast

Seller

$34.6M

vol

3 deals

Seller

North Palm Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93