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Palm Beach

PB North Ocean Trust Acquires Kathy Bleznak's Palm Beach SFR For $20M
SOLDSingle Family Residence

PB North Ocean Trust Acquires Kathy Bleznak's Palm Beach SFR For $20M

Palm Beach

$20,000,000

$4,402/SF

Building Size

4,543 SF

Asset Type

Single Family Residence

Closing

Sep 6, 2023

AI

Kathy Bleznak, a longtime Palm Beach resident, sold her extensively remodeled four-bedroom house at 960 N. Ocean Blvd for $20 million. This is a significant increase from its previous sale in 1993 at $1.17 million. The property spans 4,543 square feet and has a price per square foot (PPSF) of $4,402.

Summary of transaction details

  • Property Type: Single Family Residential (SFR)
  • Transaction Amount: $20,000,000
  • Property Address: 960 N. Ocean Blvd, Palm Beach
  • Market: Palm Beach

The buyer of the property is PB North Ocean Trust, with Michael J. Bracci as the trustee. The seller, Kathy Bleznak, was represented by Lawrence Moens. On the buyer's side, Lilly Leas Ferreira from Brown Harris Stevens acted as the representative. It is worth noting that Kathy Bleznak also purchased a four-bedroom apartment at One Watermark Place in West Palm Beach.

Players

Lawrence Moens

Broker

$2.4B

vol

65 deals

Broker
NT
North Ocean TrustBuyer

Palm Beach Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93