Updated Dec 4, 2024
Thomas Rouse Sells Elk River Club Mansion In Banner Elk For $15.85M With Sotheby's Brokers
120 Summit Park Drive
$15,850,000
$1,178/SF
Building Size
13,446 SF
Asset Type
Single Family
Closing
Nov 25, 2024
About this deal
AI
A single-family mansion located at 120 Summit Park Drive in Banner Elk, MD, has been sold for a total of $15,850,000. The property spans 13,446 square feet, with a price per square foot calculated at $1,179. This sale marks a record in North Carolina's residential market, as the Elk River Club mansion was listed at $14 million and sold fully furnished, surpassing the asking price by nearly $2 million in just 12 days.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $15,850,000
- Address: 120 Summit Park Drive
- Market: Banner Elk, MD
- Sale Price Per Square Foot: $1,179
- Square Footage: 13,446
- Seller: Thomas Rouse
- Brokers: Marilyn Wright & Rob Garrett - Sotheby's International Realty
In this transaction, Thomas Rouse acted as the seller, while the deal was facilitated by brokers Marilyn Wright and Rob Garrett from Sotheby's International Realty. Their involvement contributed to the successful sale, which set a new benchmark for residential property transactions in North Carolina.
Players
Banner Elk Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.2K per square foot on a published $15.9M for 13,446 square feet (2024).
Visit Marilyn Wright to view all their deals.
Browse Banner Elk single family sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93